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Dynamics in the European Petroleum Markets

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Author Info

  • Szymon Wlazlowski

    (Aston Business School, Aston University)

  • Monica Giulietti

    (Aston Business School, Aston University)

  • Jane Binner

    (Aston Business School, Aston University)

  • Costas Milas

    ()
    (Keele University, Centre for Economic Research and School of Economic and Management Studies)

Abstract

This paper analyses horizontal and vertical price dynamics in the EU petroleum markets. The results indicate that the cross-country price differentials have significant impact on the local price adjustments. The uncovered patterns can be seen as the first empirical support for the politically-charged concept of ‘‘fuel tourism’’, obtained using pan-European cross-product time-series database. Even more interestingly, when analysed in cross-country setting, the dreaded welfare transfer due to the asymmetric price transmission phenomenon is found to be less pronounced than claimed before.

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File URL: http://www.keele.ac.uk/depts/ec/wpapers/kerp0704.pdf
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Bibliographic Info

Paper provided by Centre for Economic Research, Keele University in its series Keele Economics Research Papers with number KERP 2007/04.

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Length: 23 pages
Date of creation: Feb 2007
Date of revision:
Handle: RePEc:kee:kerpuk:2007/04

Contact details of provider:
Postal: Department of Economics, University of Keele, Keele, Staffordshire, ST5 5BG - United Kingdom
Phone: +44 (0)1782 584581
Fax: +44 (0)1782 717577
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Web page: http://www.keele.ac.uk/depts/ec/cer/
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Postal: Centre for Economic Research, Research Institute for Public Policy and Management, Keele University, Staffordshire ST5 5BG - United Kingdom
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Web: http://www.keele.ac.uk/depts/ec/cer/pubs_kerps.htm

Related research

Keywords: Production; Pricing; and Market Structure; Petroleum; General Energy; Energy and Macroeconomy.;

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Cited by:
  1. Axel Dreher & Tim Krieger, 2007. "Diesel price convergence and mineral oil taxation in Europe," Working Papers CIE 5, University of Paderborn, CIE Center for International Economics.

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