Data for: Retail and wholesale gasoline price adjustments in response to oil price changes

Abstract of associated article: This research examines the long-run relationship between the spot oil price and retail and wholesale gasoline prices. Recent research suggests that the response of the retail gasoline price is faster and the size of the change is larger, in magnitude, following a crude oil price increase compared with periods when the crude oil price is falling; however, some recent papers examining potential asymmetries present mixed results. Our results from a common threshold model estimating the adjustment of gasoline prices and the spot oil price suggest a long-run relationship between retail and wholesale gasoline prices and the crude oil price. Further, results here suggest that both retail and wholesale gasoline prices respond symmetrically to an oil price shock in the long run, indicating little market power by gas stations and wholesalers.

关联研究论文摘要：本研究探讨了原油现货价格与汽油零售、批发价格之间的长期联动关系。此前已有研究指出，相较于原油价格下行阶段，原油价格上涨时汽油零售价格的响应速度更快、变动幅度更大；但近期部分针对价格非对称性的研究得出了混杂不一的结论。本研究通过通用阈值模型估计汽油价格与原油现货价格的调整过程，结果表明汽油零售价格、批发价格与原油价格之间存在长期均衡关系。进一步的分析结果显示，长期来看，汽油零售与批发价格对原油价格冲击的响应均呈现对称性，这说明加油站与批发商几乎不具备市场势力。