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The Spanish retail petroleum market: New patterns of competition since the liberalization of the industry

机译：西班牙零售石油市场：行业自由化以来的新竞争格局

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In this paper, we study the recent development of the Spanish automotive fuels market, in the context of a long process of liberalization and competition. Our aims are twofold. First, to overview the market's current patterns of competition, while taking into account the political, structural and strategic aspects that have marked the industry's recent evolution. Second, to study in depth one competitive strategy that nowadays significantly influences competition and final prices, the vertical relationships between operators and service stations. Our analysis draws attention to several indicators that may demonstrate the success of the opening and liberalization process. Increased levels of competition have stimulated the sector's growth, development and modernization, and given national firms an excellent platform for competing with newcomers. Furthermore, studying the vertical agreements has produced interesting results. We have found that relative price differences among brands increase in line with perceived quality differences, and that the vertical separation of refineries and retailers eases price competition in the final market. The empirical evidence was backed up with a database of 4164 Spanish service stations.
机译：在本文中，我们在漫长的自由化和竞争过程中研究了西班牙汽车燃料市场的最新发展。我们的目标是双重的。首先，要概述市场当前的竞争模式，同时要考虑标志着该行业最近发展的政治，结构和战略方面。其次，要深入研究一种当今对竞争和最终价格产生重大影响的竞争策略，即运营商与服务站之间的垂直关系。我们的分析引起人们对可能表明开放和自由化进程成功的几个指标的关注。竞争水平的提高刺激了该行业的增长，发展和现代化，并为国有企业提供了一个与新来者竞争的绝佳平台。此外，研究纵向协议也产生了有趣的结果。我们发现，品牌之间的相对价格差异随着感知到的质量差异而增加，并且炼油厂和零售商之间的垂直分离减轻了最终市场中的价格竞争。经验证据得到了4164个西班牙服务站的数据库的支持。

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