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dc.contributor.authorAmountzias, Chrysovalantis
dc.date.accessioned2023-09-29T14:15:01Z
dc.date.available2023-09-29T14:15:01Z
dc.date.issued2023-11-30
dc.identifier.citationAmountzias , C 2023 , ' Do petrol prices rise faster than they fall? Evidence from the UK retail and wholesale petrol sectors ' , The Journal of Economic Asymmetries , vol. 28 , e00326 , pp. 1-15 . https://doi.org/10.1016/j.jeca.2023.e00326
dc.identifier.issn2352-8397
dc.identifier.otherORCID: /0000-0002-7013-7032/work/143285319
dc.identifier.urihttp://hdl.handle.net/2299/26791
dc.description© 2023 The Author. Published by Elsevier B.V. This is an open access article under the CC BY license http://creativecommons.org/licenses/by/4.0/
dc.description.abstractThis study investigates the presence of price asymmetries in the UK retail and wholesale petrol sectors over the period of January 2020- July 2022. The scope of this research is to explore whether petrol prices rise faster than they fall according to changes in input costs, namely fuel and international crude oil prices for the retail and wholesale sector respectively. As the time sample considers the shocks of covid-19 restrictions and rising inflation, the presence of structural breaks is assumed which may contribute to asymmetric behaviour. The Autoregressive Distributive Lag (ARDL) approach is implemented in the pricing equation of the model by formulating four versions for each sector, according to the presence of asymmetries and price-cost margins. The results provide significant evidence of price asymmetries in the retail petrol sector; however, such asymmetries are less pronounced over high margin periods. The wholesale sector is found to be more flexible to changes in crude oil prices as asymmetries are less persistent throughout the sample. Therefore, consumers face rigid petrol prices because of retail firms’ decisions, which should be the focus of policy makers.en
dc.format.extent15
dc.format.extent837702
dc.language.isoeng
dc.relation.ispartofThe Journal of Economic Asymmetries
dc.subjectPetrol prices
dc.subjectCrude oil prices
dc.subjectAsymmetries
dc.subjectRetail petrol sector
dc.subjectWholesale fuel sector
dc.subjectUK
dc.subjectEconomics, Econometrics and Finance(all)
dc.titleDo petrol prices rise faster than they fall? Evidence from the UK retail and wholesale petrol sectorsen
dc.contributor.institutionHertfordshire Business School
dc.contributor.institutionOrganisation, Markets and Policy Research Group
dc.description.statusPeer reviewed
dc.identifier.urlhttp://www.scopus.com/inward/record.url?scp=85167820802&partnerID=8YFLogxK
rioxxterms.versionofrecord10.1016/j.jeca.2023.e00326
rioxxterms.typeJournal Article/Review
herts.preservation.rarelyaccessedtrue


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