Reakcja detalicznych cen paliw na zmiany cen hurtowych PKNOrlen i Lotos
Reaction of retail fuel prices to changes in PKNOrlen and Lotos wholesale prices
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: wholesale fuel prices; retail fuel prices; correlation; VAR model; impulse response functions.
Summary/Abstract: In this article an attempt was made to determine the strength and direction of the impact of the PKNOrlen and Lotos wholesale fuel prices to retail prices. The analysis was performed for the average weekly wholesale price of fuel groups Orlen and Lotos, and retail prices on selected stations in the years 2004-2008. Correlation analysis was used here and the tools associated with the VAR model. The results indicate strong influence of the wholesale prices into retail prices. But in the short-term differences in wholesale prices Orlen increases stronger than differences in wholesale prices Lotos affect the retail price differences. Retail prices respond with a two-week delay to changes in wholesale prices.
- Issue Year: XI/2010
- Issue No: 2
- Page Range: 273-280
- Page Count: 8
- Language: Polish