How do petrol and naphtha prices relate to the crude oil
| Authors | |
|---|---|
| Year of publication | 2013 |
| Type | Article in Proceedings |
| Conference | New Economic Challenges - 4th International PhD Student Conference |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Petrol; naphtha; price analysis; cointegration; Czech Republic |
| Description | The article examines the existence of the long-run equilibrium relationship between spot market prices for crude oil, petrol and naphtha. The results are in line with the prevailing literature, confirming the existence of long-run relationships between the oil and oil products. The block exogenity tests show that both naphtha and petrol are influenced both by each other and oil. Furthermore an evidence for causality from naphtha to oil prices is found, even though the weak exogenity of oil prices cannot be rejected. |
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