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Crude oil — end‐product linkages in the European petroleum markets

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  • Szymon Wlazlowski

Abstract

Crude oil prices were found to have a significant impact on retail petroleum product prices and were shown to affect inflation and other key economic indicators. This article analyses the former's link in the European Union (EU) within a multi‐national and multi‐product framework. The results indicate that the old EU countries from North‐West Europe are well integrated in the global petroleum markets, while the Mediterranean and Eastern European countries depend on the low‐quality Russian oils. Furthermore, while product prices in the North West Europe are driven by the world benchmark crudes, countries with easy access to Russian oil are in the bidirectional relationship with its prices.

Suggested Citation

  • Szymon Wlazlowski, 2007. "Crude oil — end‐product linkages in the European petroleum markets," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 31(2), pages 73-90, June.
    • Handle: RePEc:bla:opecrv:v:31:y:2007:i:2:p:73-90
    DOI: 10.1111/j.1468-0076.2007.00177.x
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    Cited by:

    1. Eskandar Elmarzougui & Bruno Larue, 2013. "On the Evolving Relationship Between Corn and Oil Prices," Agribusiness, John Wiley & Sons, Ltd., vol. 29(3), pages 344-360, June.
    2. Alexeeva-Talebi, Victoria, 2011. "Cost pass-through of the EU emissions allowances: Examining the European petroleum markets," Energy Economics, Elsevier, vol. 33(S1), pages 75-83.
    3. Szymon Wlazlowski & Monica Giulietti & Jane Binner & Costas Milas, 2008. "Smooth Transition Models in Price Transmission," Working Paper series 04_08, Rimini Centre for Economic Analysis.

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