Bennett, Julie; Owyang, Michael; Vermann, E. Katarina - 2021
A large literature has argued that gasoline prices respond more rapidly to increases in oil prices than to decreases in … asymmetries. We then examine whether heterogeneous asymmetry results from city-level differences in (i) the demand for gasoline …, (ii) the supply of gasoline (proxied by the distance from Cushing, Oklahoma), or the cities' fiscal environments (proxied …