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Pricing imbalances in the motor fuel markets in Russia

Author

Listed:
  • Leonov Ivan

    (Department of Economics, Lomonosov Moscow State University)

Abstract

Since 2019, Russia has implemented quasi-directive pricing in the retail gasoline and diesel fuel markets, and a "big tax maneuver" has started to be implemented. This study aims to assess the impact of the current pricing system for gasoline and diesel fuels on the competitive environment in retail markets. As part of the study, four econometric models were built using the weighted least squares method and using stationary differences instead of stationary series to identify the impact of the "big tax maneuver" on domestic gasoline and diesel prices. Current pricing imbalances are leading to a permanent increase in retail fuel prices, which inevitably leads to an increase in market concentration in the gasoline station segment. There is no steady progress in the institutional environment in the motor fuel market due to increased regulatory uncertainty and expected negative consequence.

Suggested Citation

  • Leonov Ivan, 2024. "Pricing imbalances in the motor fuel markets in Russia," Working Papers 0067, Moscow State University, Faculty of Economics.
    • Handle: RePEc:upa:wpaper:0067
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    File URL: https://www.econ.msu.ru/sys/raw.php?o=108356&p=attachment
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    More about this item

    Keywords

    competition policy; oil industry; price regulation; gasoline pricing; diesel fuel pricing; stock exchange; taxation of the oil industry; big tax maneuver; damper;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L42 - Industrial Organization - - Antitrust Issues and Policies - - - Vertical Restraints; Resale Price Maintenance; Quantity Discounts
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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