New York mark-ups on petroleum products

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Abstract

In this paper we analyse rigidities in the behaviour of the mark-up on regular, midgrade and premium varieties of petrol in the New York area using a set of weekly frequency data and a methodology that analyses the pricing process using deterministic and stochastic techniques. The results are consistent across methodologies and indicate that the speeds of adjustment to the long-run equilibrium mark-up differ across varieties of petrol with margins of the premium variety falling faster than they rise, contrary to the popular claim of welfare-decreasing asymmetries in price transmission. © 2012 The Authors. The Manchester School © 2012 Blackwell Publishing Ltd and The University of Manchester.

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Wlazlowski, S., Nilsson, B., Binner, J., Giulietti, M., & Joseph, N. (2012). New York mark-ups on petroleum products. Manchester School, 80(2), 145–171. https://doi.org/10.1111/j.1467-9957.2010.02192.x

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