Dynamics in the European Petroleum Markets

Szymon Wlazlowski, Monica Giulietti (), Jane Binner and Costas Milas
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Jane Binner: Aston Business School, Aston University, Postal: Aston Business School, Aston University, Aston Triangle, Birmingham B4 7ET

No KERP 2007/04, Keele Economics Research Papers from Centre for Economic Research, Keele University

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.

Keywords: Production, Pricing, and Market Structure; Petroleum, General Energy, Energy and Macroeconomy. (search for similar items in EconPapers)
JEL-codes: L11 Q40 Q43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-eec and nep-ene
Date: 2007-02
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