Model 1 |
Model 2 |
Model 3 |
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|---|---|---|---|---|---|---|
| PP Stat | p-Value | PP Stat | p-Value | PP Stat | p-Value | |
| Brent | 0.2550773 | 0.7483468 | -5.894102 | 0.4087638 | -11.13236 | 0.4071381 |
| US Refiner Acquisition Cost | 0.2264624 | 0.7419738 | -6.924341 | 0.3481259 | -12.10682 | 0.3634304 |
| WTI | 0.2323235 | 0.7432792 | -6.906015 | 0.3492045 | -12.13212 | 0.3622956 |
| Model 1: No drift or trend Model 2: With drift, no trend Model 3: With drift and trend |
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