Author
Mamerto Reyes Hernández
Abstract
In this paper, the transmission of prices from the international crude oil market to the national gasoline and diesel market in Guatemala was analyzed. It was sought to prove that the price transmission is asymmetric. The cointegration between the prices of superior gasoline and diesel in Guatemala and crude oil “West Texas Intermediate, WTI” in Cushing Oklahoma, United States, was evaluated. Asymmetric error correction models were fitted. It was found that the relationship between the prices studied is cointegrated and that the transmission of prices is incomplete. The price transmission elasticity is 0.61 for gasoline prices and 0.80 for diesel prices. Finally, it was determined that price transmission is symmetrical in the two cases analyzed.
Palabras clave
Transmisión de precios, petróleo, gasolina, diésel, Guatemala.
English 
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