Characteristics of Petroleum Product Prices: A Survey
45 Pages Posted: 10 Oct 2018
Date Written: September 12, 2018
We review and synthesize the empirical evidence on several factors related to petroleum product prices: (1) the general distributional characteristics of petroleum product prices; (2) the influence of refinery outages, extreme weather, and similar circumstances on product prices; (3) the way that price discovery occurs for petroleum products; (4) the predictive accuracy of petroleum product futures prices for future spot prices; and (5) the impact of speculation on product prices.
Keywords: Petroleum Product Prices, Commodities, Energy Economics
JEL Classification: G13, Q40, Q41, Q47
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