US Gasoline Prices: A Dynamic Persistence Analysis Under COVID-19 and Russia-Ukraine War

Abstract

We examine the persistence of weekly U.S. gasoline retail prices from January 1995 to December 2023, with particular attention to the effects of the COVID-19 global pandemic and the Russia-Ukraine conflict. Our findings indicate that all gasoline prices exhibit persistent behavior, suggesting that shocks have prolonged impacts. This study addresses a gap in the understanding of U.S. gasoline price dynamics during significant global events, offering insights into the stability of energy markets amid unprecedented challenges.