Business, Management and Accounting
2 years ago

Consumer Price Wars Drive Down Gasoline Prices in Colombian Markets

Price Dispersion and Wholesale Costs Shocks in the Colombian Retail Gasoline Markets
Alex Pérez, Juan Sebastián Vélez‐Velásquez

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Price dispersion in Colombian gasoline markets is influenced by consumer search behavior and firms' ability to collude. Wholesale cost shocks impact price dispersion, with consumers searching for lower prices driving changes. More service stations in a market lead to more dispersed prices.