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THE IMPACT OF MERGERS IN U.S. PETROLEUM INDUSTRY ON WHOLESALE GASOLINE PRICES
Author(s) -
KARIKARI JOHN A.,
AGBARA GODWIN,
DEZHBAKHSH HASHEM,
ELOSTA BARBARA
Publication year - 2007
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.2006.00027.x
Subject(s) - competitor analysis , gasoline , petroleum , econometric analysis , petroleum industry , business , econometric model , petroleum product , economics , commerce , industrial organization , agricultural economics , econometrics , marketing , chemistry , environmental science , organic chemistry , environmental engineering
Starting in the mid‐1990s, the U.S. petroleum industry experienced a wave of mergers, several of them between large petroleum companies that were previously competitors. Using an econometric analysis of terminal city‐specific data, this study finds that the majority of the mergers led to higher wholesale gasoline prices in the United States in the mid‐1990s through 2000. ( JEL L7, L13, L40)