Police say the 20-year-old was on foot when “he was struck by a silver Skoda Superb taxi”.
It happened at about 8.20 pm on Saturday near Inch Church, Castle Kennedy and Mr Allison was pronounced dead at the scene.
The taxi driver, a 56-year-old man, as well as his two passengers, an 18-year-old man and 71-year-old woman, were uninjured.
The road was closed for around eight hours whilst enquiries were carried out.
Sergeant Bob McNay, from Police Scotland’s Road Policing Unit, said: “Our thoughts are with Mr Allison’s family and friends at this difficult time.
“Our enquiries are ongoing to establish the full circumstances which led to this crash and I would urge anyone who could help but hasn’t yet spoken to us to get in touch.
“We are also keen to speak to anyone who may have dash cam footage which captures the vehicle or the pedestrian to get in contact, as they may be able to assist our enquiries.”
Officers can be contacted via the 101 number.