THE IMPACT OF MERGERS IN U.S. PETROLEUM INDUSTRY ON WHOLESALE GASOLINE PRICES

"Starting in the mid-1990s, the U.S. petroleum industry experienced a wave of mergers, several of them between large petroleum companies that were previously competitors. Using an econometric analysis of terminal city-specific data, this study finds that the majority of the mergers led to higher wholesale gasoline prices in the United States in the mid-1990s through 2000." ("JEL" L7, L13, L40) Copyright No Claim to Original U.S. Government Works.