Browsing by Subject "Oil Prices"

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    The relative effects of crude oil price and exchange rate on petroleum product prices: evidence from a set of Northern Meditteranean countries
    (Elsevier, 2014) Berument, Hakan; Sahin, A.; Sahin, S.
    This paper provides a set of empirical evidence from five Northern Mediterranean countries that are subject to similar refinery reference prices regarding the relative sensitivity of crude oil prices and exchange rate on (pre-tax) petroleum product prices. The empirical evidence reveals that a one percent increase in exchange rate (depreciation) increases petroleum product prices less than a one percent increase in crude oil prices does in the long run. In the short run, however, a one percent increase in exchange rate increases petroleum product prices more than a one percent increase in crude oil prices does. © 2014 Elsevier B.V. All rights reserved.