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Relationship between oil and gasoline prices in Colombia

Revista Finanzas y Politica Economica (2018) 10(2) 373-387
DOI: 10.14718/revfinanzpolitecon.2018.10.2.7
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Abstract

This article analyzes the relationship between the price of petroleum (measured in dollars per barrel) and the price of motor gasoline (measured in Colombian pesos per gallon) in Colombia from 2012 to 2016, based on a VAR estimation and the impulse-response function that characterizes each of the variables. It is found that gasoline and crude oil in Colombia do not have a direct relationship (causality test) due to external variables.

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Cerquera Losada, Ó. H., Muñoz, S. A. M., & Gómez, W. P. (2018). Relationship between oil and gasoline prices in Colombia. Revista Finanzas y Politica Economica, 10(2), 373–387. https://doi.org/10.14718/revfinanzpolitecon.2018.10.2.7

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