**Table 6a. Determinants of gasoline prices: basic model with variables on actual power distribution in system, 2SLS with random effects.**

||GLS||||2 SLS||||
|---|---|---|---|---|---|---|---|---|
||6.1|6.2|6.3|6.4|6.5|6.6|6.7|6.8|
|Crude oil pricet|1.258<sup>~~***~~</sup><br>(0.077)|1.263<sup>~~***~~</sup><br>(0.077)|1.279<sup>~~***~~</sup><br>(0.089)|1.261<sup>~~***~~</sup><br>(0.081)|1.032<sup>~~***~~</sup><br>(0.090)|1.039<sup>~~***~~</sup><br>(0.090)|1.085<sup>~~***~~</sup><br>(0.096)|1.024<sup>~~***~~</sup><br>(0.093)|
|GDP purchasing power dollars per<br>inhabitanti,t-1|<br>0.00058<sup>~~**~~</sup><br>(0.00023)|0.00051<sup>~~**~~</sup><br>(0.00023)|0.0012<sup>~~***~~</sup><br>(0.00021)|0.0006<sup>~~***~~</sup><br>(0.0002)|0.0022<sup>~~***~~</sup><br>(0.0006)|0.0022<sup>~~***~~</sup><br>(0.0006)|0.0024<sup>~~***~~</sup><br>(0.0005)|0.0023<sup>~~***~~</sup><br>(0.0006)|
|Net oil surplusi,t-1|-0.315<sup>~~***~~</sup><br>(0.120)|-0.313<sup>~~***~~</sup><br>(0.121)|-0.245<sup>~~*~~</sup><br>(0.145)|-0.274<sup>~~**~~</sup><br>(0.112)|-0.387<sup>~~***~~</sup><br>(0.132)|-0.386<sup>~~***~~</sup><br>(0.132)|-0.320<sup>~~**~~</sup><br>(0.159)|-0.376<sup>~~***~~</sup><br>(0.127)|
|Land in km<sup>~~2~~</sup><br>i,t|-0.014<sup>~~*~~</sup><br>(0.008)|-0.013<sup>~~*~~</sup><br>(0.008)|-0.036<sup>~~***~~</sup><br>(0.012)|-0.014<sup>~~*~~</sup><br>(0.008)|0.023<br>(0.018)|0.023<br>(0.018)|0.011<sup>~~***~~</sup><br>(0.028)|0.025<br>(0.018)|
|Opennessi,t|-0.112<sup>~~***~~</sup><br>(0.040)|-0.110<sup>~~***~~</sup><br>(0.040)|-0.146<sup>~~***~~</sup><br>(0.042)|-0.101<sup>~~**~~</sup><br>(0.041)|-0.128<sup>~~***~~</sup><br>(0.039)|-0.124<sup>~~***~~</sup><br>(0.039)|-0.148<sup>~~***~~</sup><br>(0.040)|-0.120<sup>~~***~~</sup><br>(0.039)|
|Road gas consumption per million<br>inhabitantsi,t-1|-0.083<sup>~~***~~</sup><br>(0.013)|-0.082<sup>~~***~~</sup><br>(0.013)|-0.071<sup>~~***~~</sup><br>(0.014)|-0.087<sup>~~***~~</sup><br>(0.013)|-0.228<sup>~~***~~</sup><br>(0.057)|-0.226<sup>~~***~~</sup><br>(0.057)|-0.180<sup>~~***~~</sup><br>(0.056)|-0.237<sup>~~***~~</sup><br>(0.054)|
|Public health % GDPi,t-1|6.618<sup>~~***~~</sup><br>(1.202)|6.594<sup>~~***~~</sup><br>(1.201)|4.134<sup>~~***~~</sup><br>(1.257)|6.614<sup>~~***~~</sup><br>(1.182)|5.862<sup>~~***~~</sup><br>(1.142)|5.869<sup>~~***~~</sup><br>(1.140)|4.040<sup>~~***~~</sup><br>(1.129)|5.775<sup>~~***~~</sup><br>(1.144)|
|Control of corruptioni,t|0.388<sup>~~***~~</sup><br>(0.070)|0.386<sup>~~***~~</sup><br>(0.070)|0.317<sup>~~***~~</sup><br>(0.073)|0.354<sup>~~***~~</sup><br>(0.072)|0.546<sup>~~***~~</sup><br>(0.113)|0.542<sup>~~***~~</sup><br>(0.113)|0.394<sup>~~***~~</sup><br>(0.103)|0.528<sup>~~***~~</sup><br>(0.112)|
|Elections in democraciesi,t|0.748<br>(1.536)||||0.642<br>(1.724)||||
|Elections in non-democraciesi,t|-3.648<br>(2.350)||||-3.759<br>(3.497)||||
|Legislative elections in democraciesi,t||1.192<br>(1.517)||||1.207<br>(1.656)|||
|Legislative elections in nondemocraciesi,t||-2.487<br>(1.809)||||-2.618<br>(2.616)|||
|Party of executive controls all houses in<br>democraciesi,t|||-1.875<br>(2.213)||||-1.365<br>(2.414)||
|Party of executive controls all houses in<br>non-democraciesi,t|||-6.579<sup>~~**~~</sup><br>(3.045)||||-6.241<sup>~~*~~</sup><br>(3.346)||
|Herfindahl Index of government party<br>seats inparliament in democraciesi,t||||-5.055<br>(3.574)||||-5.079<br>(4.105)|
|Herfindahl Index of government party<br>seats inparliament in non-democraciesi,t||||-17.748<sup>~~***~~</sup><br>(3.769)||||-15.018<sup>~~***~~</sup><br>(4.714)|
|Constant|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|R<sup>~~2~~</sup>within|0.591|0.591|0.609|0.594|0.571|0.572|0.605|0.587|
|R<sup>~~2~~</sup>overall|0.578|0.578|0.606|0.603|0.530|0.532|0.593|0.537|
|Time dummies|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Observations|1,077|1,077|940|1,024|959|959|839|908|

Notes: * = significant at 10 %; ** = significant at 5 %; *** = significant at 1 %; robust standard errors in parentheses.

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