Tag: Energy

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We examine retail gasoline station pricing using three years of weekly prices for 272 stations in the Virginia suburbs of Washington, DC. We report a number of new empirical findings about station level pricing and describe how these findings relate to existing models of retail...
Marathon-Ashland Petroleum’s (MAP) 1999 acquisition of the Michigan assets of Ultramar Diamond Shamrock (UDS) increased MAP’s share of terminal storage in Michigan from about 16 percent to about 25 percent and increased the share of gasoline stations bearing a MAP brand from about 16...
This report updates two earlier FTC studies on mergers and structural change in the U.S. petroleum industry. Reviewing industry developments since the 1980s, this report finds, among other things, that concentration in crude oil at the country or company level has remained relatively...
This study measures the retail and wholesale price effects in Louisville, Kentucky resulting from the Marathon/Ashland (MAP) joint venture. MAP was an early transaction in the recent era of petroleum mergers and it caused sizeable changes in concentration. We find no evidence of...
We review explanations for two controversial vertical restraints commonly used in gasoline marketing: price zones and territorial restrictions. After a discussion of the relevant empirical and theoretical economics literature, we consider procompetitive and anticompetitive theories...
Zone pricing in wholesale gasoline markets is a contentious topic in the public policy debate. Refiners contend that they use zone pricing to be competitive with local rivals. Critics claim that zone pricing benefits the oil industry and harms consumers. With a controlled experiment...
Gasoline "divorcement" regulations restrict the integration of gasoline refiners and retailers. Theoretically, vertical integration can harm competition, making it possible that divorcement policies could increase welfare; alternatively, these policies may reduce welfare by...

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