Competition and price levels in the retail gasoline market

Journal Article · Mon May 01 04:00:00 EDT 1978 · Rev. Econ. Stat.; (United States)

DOI:https://doi.org/10.2307/1924978· OSTI ID:7100553

Marvel, H P

Retail gasoline prices in 22 cities were surveyed to identify the effects of competition on price during the 1964-1971 period, when gasoline supplies were relatively normal and price wars were common. The informational theory of oligarchy is used to derive regression results and determine their market relevance. The 1965 price restoration move led by Texaco effectively eliminated small marketers selling at supra-competitive levels. The findings support the conclusion that collusive pricing was practiced to some extent during the period until competitive pricing returned in 1970. 8 references.

• Research Organization: Ohio State Univ., Columbus
• OSTI ID: 7100553
• Journal Information: Rev. Econ. Stat.; (United States), Journal Name: Rev. Econ. Stat.; (United States) Vol. 60:2; ISSN RECSA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
CHARGES
COMPETITION
COST
ECONOMICS
ENERGY SUPPLIES
FUELS
GASOLINE
MARKET
MONOPOLIES
PETROLEUM PRODUCTS