Our objective in this paper is to quantify the impact of petroleum industry consolidation on refined product prices, controlling for other important factors that could also impact prices. Our empirical analysis focuses on the US petroleum refining industry using data on industry consolidation...

Low ethanol prices relative to the price of gasoline blendstock, and tax credits, have resulted in discretionary blending at wholesale terminals of ethanol into fuel supplies above required levels---a practice known as ethanol splashing in industry parlance. No one knows precisely where or in...

We quantify the impact of refinery outages on petroleum product prices. The empirical analysis focuses on wholesale gasoline prices in the US using weekly data collected from January 2002 through September 2008, a period including many refinery outages. We match refinery unit output to specific...