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Fuel prices connectedness across Brazilian capitals: The case of ethanol and gasoline

Author

Listed:
  • Tabak, Benjamin Miranda
  • e Silva, Igor Bettanin Dalla Riva
  • Quintino, Derick David
  • Silva, Thiago Christiano

Abstract

This work analyzes the volatility connectedness of the prices of ethanol and gasoline sold to consumers in fifteen Brazilian capitals. Our data cover the period from 2012 to 2022 and contains several different moments in the dynamics of domestic prices, such as changes in tax policy prices, the crises of covid-19, and the war in Ukraine. The results suggest that fuel prices in the capitals are connected. Gasoline prices substantially affect ethanol prices, indicating that fossil fuel is still stronger in price formation than fuel of renewable origin. The shocks are asymmetric. Price increases in one location lead to increases in others relatively quickly. Price reductions do not propagate at the same speed or intensity.

Suggested Citation

  • Tabak, Benjamin Miranda & e Silva, Igor Bettanin Dalla Riva & Quintino, Derick David & Silva, Thiago Christiano, 2025. "Fuel prices connectedness across Brazilian capitals: The case of ethanol and gasoline," Renewable and Sustainable Energy Reviews, Elsevier, vol. 210(C).
    • Handle: RePEc:eee:rensus:v:210:y:2025:i:c:s1364032124008748
    DOI: 10.1016/j.rser.2024.115148
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    Keywords

    Energy; Retail fuel prices; Ethanol; Gasoline; Renewable energy; Renewable fuel; Sustainability; Spillover; Connectedness; Brazilian fuel market 6.491 words;
    All these keywords.

    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • F10 - International Economics - - Trade - - - General
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market

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