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

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

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...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Journal of commodity markets 2019-03, Vol.13 (C), p.1-15
Hauptverfasser: Ederington, Louis H., Fernando, Chitru S., Hoelscher, Seth A., Lee, Thomas K., Linn, Scott C.
Format: Artikel
Sprache:eng
Schlagworte:
Commodities
Energy economics
Oil prices
Petroleum product prices
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung: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.
ISSN:2405-8513
2405-8505
DOI:10.1016/j.jcomm.2018.09.002