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Relationship Between Market Structure and Price Levels of Basic Fuels in Bulgaria – An Empirical Assessment Using A Panel Approach

Author

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  • Aleksandar Todorov

    (University of Economics – Varna, Bulgaria)

Abstract

Why are fuel prices higher in some areas of Bulgaria and lower in others? This paper provides empirical evidence on the relationship between regional structure of retail gasoline in Bulgaria and regional price levels. For this purpose, the study uses new panel data on average prices of gasoline in Bulgaria by districts, which are compared with the corresponding number of stations in each district. The results show that the average prices of basic fuels are expected to be higher in those areas where there are fewer stations, as suggested by the relevant theory.

Suggested Citation

  • Aleksandar Todorov, 2022. "Relationship Between Market Structure and Price Levels of Basic Fuels in Bulgaria – An Empirical Assessment Using A Panel Approach," Scientific Conference of the Department of General Economic Theory, University of Economics - Varna, issue 1, pages 104-110.
    • Handle: RePEc:vrn:oitcon:y:2022:i:1:p:104-110
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    File URL: https://conference.ue-varna.bg/oit2022/assets/Sbornik_dokladi_OIT_2022.pdf
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    More about this item

    Keywords

    Concentration; Gasoline retailing; Pricing; Panel data; Fixed effect;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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