Detalle Publicación

ARTÍCULO
Do gasoline prices respond to non-US and US oil supply shocks?
Título de la revista: APPLIED ECONOMICS
ISSN: 0003-6846
Volumen: 53
Número: 56
Páginas: 6488 - 6496
Fecha de publicación: 2021
Lugar: WOS
Resumen:
This paper extends previous literature that investigates the impact of crude oil prices on US gasoline prices using a structural vector autoregressive model of the global crude oil market. In particular, we disentangle the global oil production into non-US and US oil production and we examine whether real gasoline prices respond to non-US and US oil supply shocks using monthly data from October 1973 to February 2018. It shows that non-US (US) oil supply disruptions generate nonsignificant (significantly positive) effects on the real price of oil and real price of gasoline. The effect of non-US (US) oil supply shocks on the real price of gasoline has been declining (rising) over time.