Abstract
This paper investigates (crude) oil price pass-through into gasoline spot and gasoline retail prices in the U.S. due to the effects of coronavirus disease 2019 (COVID-19). The investigation uses daily data in a structural vector autoregression framework. Oil price pass-through is measured as the cumulative impulse response of gasoline spot or gasoline retail prices divided by the cumulative impulse response of oil prices. The results suggest evidence for complete pass-through of oil prices into gasoline spot prices, whereas the corresponding pass-through into gasoline retail prices is about 29% in the long run.
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