U.S. Midwest Gasoline Pricing and the Spring 2000 Price Spike
Jeremy I. Bulow,
Jeffrey H. Fischer,
Jay S. Creswell, Jr. and
Christopher T. Taylor
The Energy Journal, 2003, vol. Volume24, issue Number 3, 121-149
Gasoline prices increased dramatically in the U.S. Midwest in the summer of 2000, generating allegations of collusion among gasoline marketers. We examine the causes of the price increase, and find no evidence to support the collusion story. Instead, a combination of industry characteristics and unanticipated problems in switching to a new, federally-mandated gasoline specification caused the spike. Once prices rose, firms responded as quickly as possible to get additional supplies to affected markets.
JEL-codes: F0 (search for similar items in EconPapers)
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