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Petrol Price Asymmetries Revisited

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Author Info
Barry Reilly (School of Social Sciences, University of Sussex)
Robert Witt (Department of Economics, University of Surrey)

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Abstract

An error correction model is fitted to monthly data on net retail prices for the United Kingdom over the period January 1982 to June 1995 in order to examine the short-run response of retail petrol prices to changes in input costs and the exchange rate. The hypothesis of a symmetric response by petrol retailers to crude price rises and falls is rejected by the data over the period examined. A similar hypothesis in regard to the exchange rate is also rejected by the data.

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Publisher Info
Paper provided by Surrey Energy Economics Centre (SEEC), Department of Economics, University of Surrey in its series Surrey Energy Economics Centre (SEEC), Department of Economics Discussion Papers (SEEDS) with number 89.

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Length: 28 pages
Date of creation: Aug 1996
Date of revision:
Handle: RePEc:sur:seedps:89

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Related research
Keywords: Petrol prices; Asymmetry; Exchange rate.;

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Find related papers by JEL classification:
D40 - Microeconomics - - Market Structure and Pricing - - - General
Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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  1. Mario Denni & G. Frewer, 2006. "New evidence on the relationship beetween crude oil and petroleum product prices," Departmental Working Papers of Economics - University 'Roma Tre' 0061, Department of Economics - University Roma Tre. [Downloadable!]
  2. Wlaslowski, Szymon & Binner, Jane & Guiletti, Monica & Joseph, Nathan & Nilsson, Birger, 2007. "New York mark-ups on petroleum products," Working Papers 2008:2, Lund University, Department of Economics. [Downloadable!]
  3. Stanislav Radchenko, 2004. "Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases," Industrial Organization 0408001, EconWPA. [Downloadable!]
    Other versions:
  4. U, Peter Lee, 2000. "Competition Policy in the Philippine Downstream Oil Industry," Discussion Papers PASCN DP 2000-14, Philippine Institute for Development Studies. [Downloadable!]
  5. Stanislav Radchenko, 2004. "Lags in the response of gasoline prices to changes in crude oil," Econometrics 0406001, EconWPA. [Downloadable!]
  6. Stanislav Radchenko, 2004. "Anticipated and unanticipated effects of crude oil prices and oil inventory changes on gasoline prices," Microeconomics 0406001, EconWPA. [Downloadable!]
  7. Ronald Johnson, 2002. "Search Costs, Lags and Prices at the Pump," Review of Industrial Organization, Springer, vol. 20(1), pages 33-50, February. [Downloadable!] (restricted)
  8. Michael Noel, 2007. "Do Gasoline Prices Resond Asymmetrically to Cost Shocks? The Confounding Effect of Edgeworth Cycles," University of California at San Diego, Economics Working Paper Series 2007-04, Department of Economics, UC San Diego. [Downloadable!]
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This page was last updated on 2009-11-10.

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