Assessment of the COVID-19 Pandemic's Impact on Gasoline Prices in Pakistan

Abstract

Abstract The COVID-19 virus is a pandemic that, from the outset, alters its appearance and symptoms. It has aggressively spread around the world. The COVID-19-induced fear and uncertainty are disrupting the global economy and exacerbating financial market volatility. The most impacted countries were the United States, the United Kingdom, India, and Pakistan. The continuing COVID-19 situation is both a public health and economic concern on a worldwide. This research aims at how the spread of the COVID-19 has affected the cost of gasoline,diesel, and liquefied petroleum gas (LPG). Every week, statistics on COVID-19 instances and pricing are collected. The data was analyzed using the ARDL model and the Bound test to determine the short and long-term association between COVID-19 and prices. The Autoregressive distributive lag model findings reveal that confirmed and mortality cases impact fuel, diesel, and LPG prices.