气候变化领域集成服务门户(CCPortal): Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney

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DOI	10.1016/j.enpol.2021.112278
	Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney
	Valadkhani A.; Anwar S.; Ghazanfari A.; Nguyen J.
发表日期	2021
ISSN	03014215
卷号	153
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
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
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/205378
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
推荐引用方式 GB/T 7714	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],2021,153.
APA	Valadkhani A.,Anwar S.,Ghazanfari A.,&Nguyen J..(2021).Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney.Energy Policy,153.
MLA	Valadkhani 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".Energy Policy 153(2021).