The dynamics pattern of price dispersion in retail fuel markets
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Title
The dynamics pattern of price dispersion in retail fuel marketsDate
2018-08Publisher
ElsevierBibliographic citation
BALAGUER, Jacint; RIPOLLÉS, Jordi (2018). The dynamics pattern of price dispersion in retail fuel markets. Energy Economics, v. 74, p. 546-564Type
info:eu-repo/semantics/articlePublisher version
https://www.sciencedirect.com/science/article/pii/S0140988318302494Version
info:eu-repo/semantics/publishedVersionAbstract
This paper empirically investigates the dynamics of price dispersion in retail fuel
markets as
a
response to
the
corresponding wholesale price changes.
For
this purpose
we take advantage ... [+]
This paper empirically investigates the dynamics of price dispersion in retail fuel
markets as
a
response to
the
corresponding wholesale price changes.
For
this purpose
we take advantage of a daily dataset of prices fixed by
gas
stations in two Spanish
reg
ions. It is consistently found that retail price dispersion is temporarily enlarged as
a
consequence of wholesale price increases, while it is reduced due to decreases. The
presence of asymmetries in the short
-
run dynamics is also revealed. T
he impact of
p
ositive changes in
the
wholesale price is, in the first days
of
adjustment, clearly
greater.
The dynamics pattern could be explained, at least in part,
by
the
faster
response
of prices in the stations associated
with
the
two vertically integrated companies
that
have
the largest market share (i.e. Repsol and Cepsa). [-]
Is part of
Energy Economics (2018), v. 74Investigation project
Financial support from 1) The European Union FEDER funds and 2) The Spanish Ministry of Economy and Competitiveness (ECO2014 - 58975 - P).Rights
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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- ECO_Articles [696]