چكيده فارسي :
This paper examines the long-run and short-run determinants of unleaded petrol price in
Australia’s capital cities using monthly data to find out whether prices respond asymmetrically to
external shocks. In the long-run petrol prices are mainly determined by Tapis crude oil and
Singapore petrol prices. There is some evidence of asymmetric price adjustments in the short-run
since petrol price increases have been mostly passed on to the consumer faster than price decreases
in four capital cities. One can thus argue that there are a significant degree of market inefficiency
and/or collusion, requiring a closer government price monitoring and scrutiny.
