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Characteristics of petroleum product prices: A survey

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  • Ederington, Louis H.
  • Fernando, Chitru S.
  • Hoelscher, Seth A.
  • Lee, Thomas K.
  • Linn, Scott C.

Abstract

We review and synthesize the empirical evidence on several factors related to petroleum product prices: (1) the general distributional characteristics of petroleum product prices; (2) the influence of refinery outages, extreme weather, and similar circumstances on product prices; (3) the way that price discovery occurs for petroleum products; (4) the predictive accuracy of petroleum product futures prices for future spot prices; and (5) the impact of speculation on product prices.

Suggested Citation

  • Ederington, Louis H. & Fernando, Chitru S. & Hoelscher, Seth A. & Lee, Thomas K. & Linn, Scott C., 2019. "Characteristics of petroleum product prices: A survey," Journal of Commodity Markets, Elsevier, vol. 14(C), pages 1-15.
    • Handle: RePEc:eee:jocoma:v:14:y:2019:i:c:p:1-15
    DOI: 10.1016/j.jcomm.2018.09.001
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