Price dynamics in European petroleum markets

Wlazlowski, Szymon, Giulietti, Monica, Binner, Jane and Milas, Costas (2009). Price dynamics in European petroleum markets. Energy Economics, 31 (1), pp. 99-108.


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. We investigate the cross-national price spill-overs and find that the extent of the welfare transfer due to asymmetric price transmission, when analysed in a cross-country setting, is less pronounced than claimed in previous contributions in this area. We also find empirical evidence, although indirect, for the politically charged concept of "fuel tourism", using a pan-European cross-product time series dataset.

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Divisions: Aston Business School
Aston Business School > Economics finance & entrepreneurship
Uncontrolled Keywords: Europe,non-linear error correction models,oil markets,price transmission,Economics and Econometrics,Energy(all)
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Published Date: 2009-01
Authors: Wlazlowski, Szymon
Giulietti, Monica
Binner, Jane
Milas, Costas


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