Publication details

How do petrol and naphtha prices relate to the crude oil

Authors

HAJKO Vladimír

Year of publication 2013
Type Article in Proceedings
Conference New Economic Challenges - 4th International PhD Student Conference
MU Faculty or unit

Faculty of Economics and Administration

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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