THE IMPACT OF MERGERS IN U.S. PETROLEUM INDUSTRY ON WHOLESALE GASOLINE PRICES

John Karikari, Godwin Agbara, Hashem Dezhbakhsh and Barbara El‐osta

Contemporary Economic Policy, 2007, vol. 25, issue 1, 46-56

Abstract: Starting in the mid‐1990s, the U.S. petroleum industry experienced a wave of mergers, several of them between large petroleum companies that were previously competitors. Using an econometric analysis of terminal city‐specific data, this study finds that the majority of the mergers led to higher wholesale gasoline prices in the United States in the mid‐1990s through 2000. (JEL L7, L13, L40)

Date: 2007
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