Communications - Scientific Letters of the University of Zilina 2025, 27(3):A40-A47 | DOI: 10.26552/com.C.2025.043

Economic Determinants of Gasoline Prices: A Cointegration Analysis for Czechia

Jiří Alina ORCID...1, *, Jiří Nožička ORCID...2
1 Department of Applied Economics and Economy, Faculty of Economics, University of South Bohemia in Ceske Budejovice, Ceske Budejovice, Czech Republic
2 Department of Transport Management, Marketing and Logistics, Faculty of Transport Engineering, University of Pardubice, Pardubice, Czech Republic

The long-term relationships between the N95 ("Natural 95") gasoline prices and economic factors, such as Brent crude oil prices, diesel fuel prices, and the CZK/USD exchange rate from 2014 to 2024, was investigated within this research. The Engle-Granger cointegration test was used to identify any stable long-term connections between these variables. Despite the comprehensive tests, facilitated by the Matlab software, no evidence of cointegration was consistently found, indicating that these economic factors do not significantly influence N95 gasoline prices over the long term. The findings suggest that, while the short-term fluctuations in these economic indicators may temporarily impact gasoline prices, they are not reliable predictors of the long-term trends.

Keywords: Engle-Granger test, cointegration, prices, oil, gasoline
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The authors received no financial support for the research, authorship and/or publication of this article.

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The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.

Received: January 7, 2025; Accepted: May 28, 2025; Prepublished online: June 16, 2025; Published: July 1, 2025  Show citation

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Alina, J., & Nožička, J. (2025). Economic Determinants of Gasoline Prices: A Cointegration Analysis for Czechia. Communications - Scientific Letters of the University of Zilina, 27(3), A40-47. doi: 10.26552/com.C.2025.043
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