Regulation of petrol prices doesn’t work, says expert

Thu, 24 Jan 2013

Jan. 24 (BusinessDesk) – A visiting competition expert says regulating petrol prices doesn't work, and that international attention is now turning to the role refineries play in the industry. Justus Haucap, who holds the chair of competition theory and policy at the University of Dusseldorf, told a seminar in Wellington of an economic laboratory experiment he was involved with to shed light on the issue. The experiment tested the Austrian, Luxembourg and Western Australian regulation regimes. In Austria, the price of petrol can only be incre...

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