Are unleaded gasoline and diesel price adjustments symmetric? A comparison of the four largest EU retail fuel markets

Rockets and feathers behaviour in the Spanish gasoline and diesel market: New evidence

“…Karagiannis et al. (), using the same approach, do not find evidence of the ‘rockets and feathers’ phenomenon.…”

“…(), Balaguer and Ripollés (), Clerides (2010) and Karagiannis et al. () encounter no evidence of asymmetric behavior, while the other three papers do encounter such evidence.…”

“…To the best of our knowledge, the main papers that have analyzed the existence of asymmetric price transmission for the Spanish retail fuel market are Galeotti, Lanza, and Manera (), Grasso and Manera (), Polemis et al. (2013), Karagiannis, Panagopoulos, and Vlamis (), Contín‐Pilart, Correljé, and Palacios (), Balaguer and Ripollés (), Bagnai et al. (2016), Clerides (2010) and Venditti ().…”

Asymmetric impact of crude price on oil product pricing in the United States: An application of multiple threshold nonlinear autoregressive distributed lag model

“…This phenomenon has been further confirmed by a number of studies (see for example Borenstein et al, 1997;Bachmeier and Griffin, 2003;Chen et al, 2005;Honarvar, 2009 for the United States (U.S.) and Grasso and Manera, 2007;Meyler, 2009 for European nations) that have documented this asymmetric price interaction between gasoline and crude oil. However, empirical evidence of Berument et al (2014) from a set of North Mediterranean nations and Karagiannis et al (2015) from four European Union nations do not support the asymmetric pass-through of the crude oil price on petroleum product prices. Nevertheless, the majority of studies in this domain (for a detailed review, refer to Perdiguero-Garcia, 2013) focus on linear relations between the prices of crude oil and gasoline, though, exceptions can be significantly noted from the recent empirical investigations of Lamotte et al (2013) and Atil et al (2014) that have explored the nonlinearity between the prices of crude oil and gasoline.…”

Price asymmetry revisited from a marketing perspective

“…There are some papers on the other side as well. For instance, Karagiannis et al (2014) test the symmetry of price adjustments in the gasoline markets of four countries (Germany, France, Italy and Spain) and do not find that the retail fuel speed of upward/downward price adjustment is asymmetric in any of the four economies. Berument et al (2014) find no significant asymmetry for crude oil price increases versus decreases on petroleum product prices.…”