Economics at your fingertips  

A review of the evidence on the relation between crude oil prices and petroleum product prices

Louis H. Ederington, Chitru S. Fernando, Seth A. Hoelscher, Thomas K. Lee and Scott Linn ()

Journal of Commodity Markets, 2019, vol. 13, issue C, 1-15

Abstract: We review a large body of the empirical literature focusing on the relation between petroleum product prices and oil prices and discuss the evidence on the direction of causality between crude oil prices and petroleum product prices. In addition, we survey the literature on the much-debated question of whether petroleum product prices respond differently to increases versus decreases in oil prices, which Bacon (1991) labeled the “rockets and feathers” phenomenon.

Keywords: Oil prices; Petroleum product prices; Energy economics; Commodities (search for similar items in EconPapers)
JEL-codes: G13 Q40 Q41 Q47 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.jcomm.2018.09.002

Access Statistics for this article

Journal of Commodity Markets is currently edited by Marcel Prokopczuk, Betty Simkins and Sjur Westgaard

More articles in Journal of Commodity Markets from Elsevier
Bibliographic data for series maintained by Haili He ().

Page updated 2020-07-08
Handle: RePEc:eee:jocoma:v:13:y:2019:i:c:p:1-15