globalchange  > 气候变化与战略
DOI: 10.1016/j.enpol.2021.112278
论文题名:
Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney
作者: Valadkhani A.; Anwar S.; Ghazanfari A.; Nguyen J.
刊名: Energy Policy
ISSN: 03014215
出版年: 2021
卷: 153
语种: 英语
中文关键词: Australia ; Retail price ; Threshold regressions ; Unleaded petrol
英文关键词: Automobile drivers ; Commerce ; Costs ; Gasoline ; Australia ; Crude oil prices ; Fixed-parameter models ; Geographical locations ; Input costs ; Large cities ; Market efficiency ; Retail price ; Threshold regressions ; Unleaded petrol ; Sales ; commodity price ; competition (economics) ; crude oil ; energy market ; oil industry ; regression analysis ; retailing ; Australia ; New South Wales ; Sydney [New South Wales] ; Varanidae
英文摘要: Market efficiency is distorted when retailers are unwilling to pass on changes in wholesale costs or the price of oil (as a major production input cost) to motorists. Existing approaches to measuring pass-through parameters may obscure such behaviour because of the use of fixed-parameter models and/or aggregated price data across different locations and brands over time. We contribute to the literature by examining if there is a mismatch between wholesale and retail petrol prices across different brands supplying unleaded petrol within the same geographical location. To do so, we examine the effects of upstream shocks, arising from changes in oil or wholesale petrol prices, on the retail petrol prices of 672 stations in Sydney, Australia's largest city. We find that the pass-through parameters are significantly lower for stations with fewer competitors in their immediate proximity. When there are fewer than 13 petrol stations within a 5-km radius, or 33 stations within 10 km, irrespective of their brand, they become increasingly less responsive to changes in the wholesale petrol price or the price of crude oil. Our findings enhance market transparency and provide regulators with a rule of thumb that allows them to monitor the unleaded petrol market more effectively. © 2021 Elsevier Ltd
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资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/168055
Appears in Collections:气候变化与战略

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作者单位: School of Business, Swinburne University of Technology, Victoria, 3122, Australia; School of Business and Creative Industries, University of the Sunshine CoastQLD 4556, Australia; School of Economics, Finance and Marketing, RMIT University, Victoria, 3000, Australia

Recommended Citation:
Valadkhani A.,Anwar S.,Ghazanfari A.,et al. Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney[J]. Energy Policy,2021-01-01,153
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