TY - JOUR N2 - The purpose of the article is to verify a hypothesis about the asymmetric pass-through of crude oil prices to the selling prices of refinery products (unleaded 95 petrol and diesel oil). The distribution chain is considered at three levels: the European wholesale market, the domestic wholesale market and the domestic retail market. The error correction model with threshold cointegration proved to be an appropriate tool for making an empirical analysis based on the Polish data. As found, price transmission asymmetry in the fuel market is significant and its scale varies depending on the level of distribution. The only exception is the wholesale price transmission to the domestic refinery price. All conclusions are supported by the cumulative response functions. The analysis sheds new light on the price-setting processes in an imperfectly competitive fuel market of a medium-sized, non-oil producing European country in transition. L1 - http://journals.pan.pl/Content/103739/PDF/mainFile.pdf L2 - http://journals.pan.pl/Content/103739 PY - 2014 IS - No 2 EP - 127 DO - 10.24425/cejeme.2014.119235 KW - threshold cointegration KW - threshold error correction model KW - asymmetric price adjustment KW - fuel price transmission A1 - Leszkiewicz-Kędzior, Katarzyna A1 - Welfe, Aleksander PB - Oddział PAN w Łodzi DA - 30.06.2014 T1 - Asymmetric Price Adjustments in the Fuel Market SP - 105 UR - http://journals.pan.pl/dlibra/publication/edition/103739 T2 - Central European Journal of Economic Modelling and Econometrics ER -