Fuel Prices and Station Heterogeneity on Retail Gasoline Markets
利用德国几乎所有加油站一整年的报价面板数据，研究加油站价格差异的原因，发现炼油厂出厂价、位置和品牌是主要决定因素，服务少或竞争环境多样则价格更低。
ABSTRACT We empirically investigate how and why price levels differ across gasoline stations, using the first full year from a novel panel data set including price quotes from virtually all gas stations in Germany. Our analysis specifically explores the role of station heterogeneity in explaining price differences across gasoline stations. Key determinants of price levels are found to be ex-refinery prices as key input costs, a station’s location on roads or highway service areas, and brand recognition. A lower number of station-specific services implies lower fuel price levels, as does a more heterogeneous local competitive environment.