This is a news story, published by Phys Org, that relates primarily to Journal of Industrial Economics news.
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Competition EconomicsPhys Org
•87% Informative
Low-income households in low-income areas face significantly higher increases in petrol prices when rival fuel stations close compared to high-income regions.
Low income households spend disproportionately more on petrol than those in high income areas.
Large chains respond with higher price increases following the exit of one of their rivals.
At the same time, low income areas do not benefit from a higher drop in prices when new stations open.
The findings also support arguments that even where blocking or breaking up concentration is not possible, demand-side remedies (such as helping consumers make more informed choices) may help mitigate harmful effects, provided that some choice still exists for consumers. More information: Lack of competition between petrol stations hits households most in poorest areas, Journal of Industrial Economics ( 2024 ). Provided by University of East Anglia .
VR Score
93
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97
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50
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English
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