Abstract
The pricing of retail petroleum products is influenced by various complex factors, and understanding their impact is critical. This study aims to derive and rank the factors that affect consumer price competition of petroleum products and discusses how they hinder price competition. Experts in the energy sector were surveyed to determine the relative importance of each factor using the Analytic Hierarchy Process, a well-known technique for strategic decision-making. The analysis shows that the distribution structure is the most critical factor at the criteria level, requiring a comprehensive review. At the sub-criteria level, contract with single-supplier, ex-post settlement, and Altteul gas stations are important factors, indicating the need for improvement in current transaction practices. Furthermore, there are differences in perspective between energy experts and oil distribution employees for some sub-criteria, highlighting the need for the government to coordinate various opinions and interests in the market. This study synthesizes the opinions of experts in South Korea on the factors that restrict competition in consumer prices of petroleum products, providing insights for related policy development and business planning.
| Translated title of the contribution | Relative importance of factors discouraging price competition in retail petroleum market |
|---|---|
| Original language | Korean |
| Pages (from-to) | 375-401 |
| Number of pages | 27 |
| Journal | 에너지경제연구 |
| Volume | 22 |
| Issue number | 1 |
| DOIs | |
| State | Published - 2023 |