We examine the competitive effects of the vertical integration of gasoline refineries and retailers in the U.S. Adapting the first-order condition approach of static oligopoly games to the analysis of vertically related oligopolies, we develop a novel framework for directly evaluating the...

This paper surveys the economic literature on competitive issues in domestic petroleum refining and marketing provides in order to provide some insight into the underlying causes of gasoline price dynamics. The survey examines the four major categories of economic literature: (1) the statistical...