Browsing by Author "Torres, RIcarte De los Reyes"
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Item Restricted Crude and retail price asymmetry in the Philippine gasoline market: before and after deregulation(2006-10) Sadaran, Joy Arvin Tecson; Torres, RIcarte De los Reyes; Tecson, GwendolynThis study explains the existence of price asymmetry in the Philippine oil industry before and after the deregulation. It uses three approaches of analyses in determining the existence of price asymmetry between retail price of oil and crude: Ordinary Least Squares (OLS), Cointegration Model and the analysis of price change differentials of the retail against crude price. Before the deregulation of the Philippine oil industry, there is already asymmetry between the retail price of oil and the crude price; but they do not have a long-run relationship. After the deregulation, asymmetry of prices becomes greater. There is a trend and relationship between the retail and crude price in the long-run. The level of price asymmetry becomes even greater after the deregulation.