Econometrical modeling of retail price on gasoline (on the example of the Volgograd region)

Abstract

Purpose: the author models the dependence between retail and wholesale price on gasoline in the regional market. Discussion: the author notices that the world indicator of world oil prices impacts on retail prices on gasoline in accordance with the most of the domestic empirical works on the modeling of gasoline prices. The author describes the structure analysis technique of time series data and the correct models construction of gasoline retail and wholesale prices dependence. Results: the author constructed the econometric model of gasoline retail and wholesale price dependence, and estimated the short-term and long-term ratio of these values.