Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009
Unable to cope fully with steadily climbing world oil prices since mid-2009, many of the 65 countries reviewed in this paper have progressed slowly or even reversed course in reforming pricing of petroleum products. End-user prices in July 2012 var...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2013/04/17513782/petroleum-product-pricing-complementary-policies-experience-65-developing-countries-2009 http://hdl.handle.net/10986/13201 |
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okr-10986-13201 |
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oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
AIR AIR CONDITIONING AIR POLLUTION ALTERNATIVE FUELS ANHYDROUS ETHANOL APPROACH AUTOMOTIVE FUEL AVAILABILITY AVERAGE PRICE AVIATION FUEL BACKUP POWER BALANCE BARREL BARRELS PER DAY BIOMASS BLACK MARKET BLACK MARKETS BORDER PRICES BUSES CAR CAR TRIPS CARS COAL COMMERCIAL RESERVES COMMODITY PRICE COMPACT FLUORESCENT LIGHT BULBS CONGESTION CONSUMPTION OF PETROLEUM CONSUMPTION OF POWER COST OF ETHANOL COSTS OF ELECTRICITY CRUDE OIL CRUDE OIL PRICE DEMAND FOR PETROLEUM PRODUCTS DIESEL DIESEL FUEL DOMESTIC CRUDE OIL DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC REFINING DRIVERS DRIVING ECONOMIES OF SCALE EFFICIENCY IMPROVEMENT EFFICIENT LIGHTING EFFICIENT TRAVEL ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY GENERATION EMERGING MARKETS ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY PRICES ETHANOL ETHANOL DEMAND ETHANOL IN GASOLINE ETHANOL PRODUCTION ETHANOL PROGRAM EXPENDITURE EXPENDITURES FEEDSTOCK FEEDSTOCK COSTS FEEDSTOCK PRICES FEEDSTOCKS FINANCIAL INCENTIVES FINANCIAL PERFORMANCE FOSSIL FOSSIL FUEL FREIGHT FUEL FUEL ADULTERATION FUEL CONSERVATION FUEL CONSUMPTION FUEL COSTS FUEL ECONOMY FUEL EFFICIENCY FUEL EFFICIENCY IMPROVEMENT FUEL EFFICIENCY STANDARDS FUEL MARKET FUEL OIL FUEL PRICE FUEL PRICE INCREASES FUEL PRICES FUEL PRICING FUEL QUALITY FUEL SHORTAGES FUEL SPECIFICATIONS FUEL STORAGE FUEL STORAGE CAPACITY FUEL SUBSIDIES FUEL SUPPLY FUEL SWITCHING FUEL TANKS FUEL TAX FUEL USE FUELS GAS GAS COMPANIES GASOLINE GASOLINE PRICE HOUSEHOLD FUEL HYDROPOWER HYDROPOWER GENERATION INFLATION INTERNATIONAL CRUDE OIL KEROSENE KEROSENE CONSUMPTION KEROSENE SUBSIDIES LAND USE LIQUEFIED PETROLEUM GAS LIQUID FUELS MARGINAL COST MARKET ENTRY MARKET PRICE MARKET PRICES MARKETING MONOPOLY MOTORISTS NATIONAL OIL NATIONAL OIL COMPANIES NATURAL GAS NATURAL GAS MARKET NATURAL GAS PRICES NET OIL OIL OIL COMPANIES OIL COMPANY OIL CONSUMPTION OIL EXPORTERS OIL EXPORTING COUNTRIES OIL IMPORTS OIL INDUSTRY OIL PIPELINE OIL PRICE OIL PRICE CHANGES OIL PRICES OIL PRICING OIL PRICING POLICY OIL PRODUCTION OIL USE OILS PASSENGER TRANSPORT PEAK POWER PETROLEUM PETROLEUM DIESEL PETROLEUM GAS PETROLEUM PRICE PETROLEUM PRODUCT PRICES PETROLEUM PRODUCT PRICING PETROLEUM PRODUCTS PETROLEUM SECTOR POWER POWER CONSUMPTION POWER GENERATION POWER SECTOR POWER SHORTAGES PRICE ADJUSTMENT PRICE ADJUSTMENTS PRICE CEILINGS PRICE CHANGE PRICE CHANGES PRICE COMPETITION PRICE CONTROL PRICE CONTROLS PRICE FREEZE PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE LEVELS PRICE OF DIESEL PRICE OF GASOLINE PRICE OF OIL PRICE RISK PRICE STABILIZATION PRICE SUBSIDIES PRICE VOLATILITY PRICING MECHANISM PRICING MECHANISMS PRICING POLICIES PRICING REFORM PRODUCT PRICING PROFIT MARGIN PUBLIC PASSENGER TRANSPORT PUBLIC PERCEPTION PUBLIC SAFETY PUBLIC TRANSPORT RAIL REDUCING ENERGY CONSUMPTION REDUCTION IN FUEL CONSUMPTION REFINERIES REFINERY CLOSURES REGULAR GASOLINE RENEWABLE ENERGY RESIDENTIAL CONSUMERS RETAIL RETAIL PRICE RETAIL PRICES ROAD ROAD TRANSPORT SAFETY SALE SALES SOLAR WATER HEATERS SOYBEAN OIL SPOT PRICES SPREAD STABLE PRICES STREET LIGHTING STREETS SUBSTITUTE SUGAR CANE SUGARCANE SUGARCANE CULTIVATION SUPPLIERS SUPPLY CHAIN SUPPLY COSTS SUSTAINABLE ENERGY TAX TAX REVENUES TIRES TRANSIT TRANSPORT TRANSPORT SYSTEM TRANSPORT SYSTEM EFFICIENCY TRANSPORTATION TRANSPORTATION COSTS TRANSPORTATION FUELS TRAVEL MODES TRUCKS TRUE URBAN TRANSPORT UTILITIES UTILITY COMPANY VEHICLE VEHICLE DRIVERS VEHICLE FUEL VEHICLE FUEL ECONOMY VEHICLE POPULATION VEHICLES WHOLESALE PRICE WHOLESALE PRICES WIND WORLD MARKET WORLD OIL PRICES |
| spellingShingle |
AIR AIR CONDITIONING AIR POLLUTION ALTERNATIVE FUELS ANHYDROUS ETHANOL APPROACH AUTOMOTIVE FUEL AVAILABILITY AVERAGE PRICE AVIATION FUEL BACKUP POWER BALANCE BARREL BARRELS PER DAY BIOMASS BLACK MARKET BLACK MARKETS BORDER PRICES BUSES CAR CAR TRIPS CARS COAL COMMERCIAL RESERVES COMMODITY PRICE COMPACT FLUORESCENT LIGHT BULBS CONGESTION CONSUMPTION OF PETROLEUM CONSUMPTION OF POWER COST OF ETHANOL COSTS OF ELECTRICITY CRUDE OIL CRUDE OIL PRICE DEMAND FOR PETROLEUM PRODUCTS DIESEL DIESEL FUEL DOMESTIC CRUDE OIL DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC REFINING DRIVERS DRIVING ECONOMIES OF SCALE EFFICIENCY IMPROVEMENT EFFICIENT LIGHTING EFFICIENT TRAVEL ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY GENERATION EMERGING MARKETS ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY PRICES ETHANOL ETHANOL DEMAND ETHANOL IN GASOLINE ETHANOL PRODUCTION ETHANOL PROGRAM EXPENDITURE EXPENDITURES FEEDSTOCK FEEDSTOCK COSTS FEEDSTOCK PRICES FEEDSTOCKS FINANCIAL INCENTIVES FINANCIAL PERFORMANCE FOSSIL FOSSIL FUEL FREIGHT FUEL FUEL ADULTERATION FUEL CONSERVATION FUEL CONSUMPTION FUEL COSTS FUEL ECONOMY FUEL EFFICIENCY FUEL EFFICIENCY IMPROVEMENT FUEL EFFICIENCY STANDARDS FUEL MARKET FUEL OIL FUEL PRICE FUEL PRICE INCREASES FUEL PRICES FUEL PRICING FUEL QUALITY FUEL SHORTAGES FUEL SPECIFICATIONS FUEL STORAGE FUEL STORAGE CAPACITY FUEL SUBSIDIES FUEL SUPPLY FUEL SWITCHING FUEL TANKS FUEL TAX FUEL USE FUELS GAS GAS COMPANIES GASOLINE GASOLINE PRICE HOUSEHOLD FUEL HYDROPOWER HYDROPOWER GENERATION INFLATION INTERNATIONAL CRUDE OIL KEROSENE KEROSENE CONSUMPTION KEROSENE SUBSIDIES LAND USE LIQUEFIED PETROLEUM GAS LIQUID FUELS MARGINAL COST MARKET ENTRY MARKET PRICE MARKET PRICES MARKETING MONOPOLY MOTORISTS NATIONAL OIL NATIONAL OIL COMPANIES NATURAL GAS NATURAL GAS MARKET NATURAL GAS PRICES NET OIL OIL OIL COMPANIES OIL COMPANY OIL CONSUMPTION OIL EXPORTERS OIL EXPORTING COUNTRIES OIL IMPORTS OIL INDUSTRY OIL PIPELINE OIL PRICE OIL PRICE CHANGES OIL PRICES OIL PRICING OIL PRICING POLICY OIL PRODUCTION OIL USE OILS PASSENGER TRANSPORT PEAK POWER PETROLEUM PETROLEUM DIESEL PETROLEUM GAS PETROLEUM PRICE PETROLEUM PRODUCT PRICES PETROLEUM PRODUCT PRICING PETROLEUM PRODUCTS PETROLEUM SECTOR POWER POWER CONSUMPTION POWER GENERATION POWER SECTOR POWER SHORTAGES PRICE ADJUSTMENT PRICE ADJUSTMENTS PRICE CEILINGS PRICE CHANGE PRICE CHANGES PRICE COMPETITION PRICE CONTROL PRICE CONTROLS PRICE FREEZE PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE LEVELS PRICE OF DIESEL PRICE OF GASOLINE PRICE OF OIL PRICE RISK PRICE STABILIZATION PRICE SUBSIDIES PRICE VOLATILITY PRICING MECHANISM PRICING MECHANISMS PRICING POLICIES PRICING REFORM PRODUCT PRICING PROFIT MARGIN PUBLIC PASSENGER TRANSPORT PUBLIC PERCEPTION PUBLIC SAFETY PUBLIC TRANSPORT RAIL REDUCING ENERGY CONSUMPTION REDUCTION IN FUEL CONSUMPTION REFINERIES REFINERY CLOSURES REGULAR GASOLINE RENEWABLE ENERGY RESIDENTIAL CONSUMERS RETAIL RETAIL PRICE RETAIL PRICES ROAD ROAD TRANSPORT SAFETY SALE SALES SOLAR WATER HEATERS SOYBEAN OIL SPOT PRICES SPREAD STABLE PRICES STREET LIGHTING STREETS SUBSTITUTE SUGAR CANE SUGARCANE SUGARCANE CULTIVATION SUPPLIERS SUPPLY CHAIN SUPPLY COSTS SUSTAINABLE ENERGY TAX TAX REVENUES TIRES TRANSIT TRANSPORT TRANSPORT SYSTEM TRANSPORT SYSTEM EFFICIENCY TRANSPORTATION TRANSPORTATION COSTS TRANSPORTATION FUELS TRAVEL MODES TRUCKS TRUE URBAN TRANSPORT UTILITIES UTILITY COMPANY VEHICLE VEHICLE DRIVERS VEHICLE FUEL VEHICLE FUEL ECONOMY VEHICLE POPULATION VEHICLES WHOLESALE PRICE WHOLESALE PRICES WIND WORLD MARKET WORLD OIL PRICES Kojima, Masami Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 |
| relation |
Policy Research Working Paper;No. 6396 |
| description |
Unable to cope fully with steadily
climbing world oil prices since mid-2009, many of the 65
countries reviewed in this paper have progressed slowly or
even reversed course in reforming pricing of petroleum
products. End-user prices in July 2012 varied by two orders
of magnitude across the countries. More than two-fifths,
including some that had only recently adopted automatic
pricing mechanisms, froze the prices of gasoline, diesel, or
both for months or even years on end during the study
period. When the prices were finally adjusted, the increases
were sometimes substantial, leading to large-scale protests,
partial or full reversals of price adjustments, or softening
of pricing reform policy. Governments' attempts to keep
domestic prices artificially low -- through price control,
export or quantity restrictions, or political pressure put
on oil companies -- have helped curb inflation in the short
term, but frequently with serious negative consequences:
flourishing black markets, smuggling, fuel adulteration,
illegal diversion of subsidy funds, large financial losses
suffered by fuel suppliers, deteriorating refining and other
infrastructure, and acute fuel shortages causing
economy-wide damage. In several countries, subsidies, price
controls, and other restrictions have helped protect
inefficient refineries and oil marketers. Mitigation
responses have included fuel conservation programs; fuel
diversification, particularly liquid biofuels to substitute
gasoline and diesel; and efforts to lower costs of supply,
including strengthening infrastructure, promoting price
competition, hedging, negotiating price discounts with
exporters, and bulk procurement. Various forms of assistance
to consumers have also been offered, especially to
households, agriculture, transport, and fisheries. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Kojima, Masami |
| author_facet |
Kojima, Masami |
| author_sort |
Kojima, Masami |
| title |
Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 |
| title_short |
Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 |
| title_full |
Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 |
| title_fullStr |
Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 |
| title_full_unstemmed |
Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 |
| title_sort |
petroleum product pricing and complementary policies : experience of 65 developing countries since 2009 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2013/04/17513782/petroleum-product-pricing-complementary-policies-experience-65-developing-countries-2009 http://hdl.handle.net/10986/13201 |
| _version_ |
1764422957230194688 |
| spelling |
okr-10986-132012021-04-23T14:03:07Z Petroleum Product Pricing and Complementary Policies : Experience of 65 Developing Countries Since 2009 Kojima, Masami AIR AIR CONDITIONING AIR POLLUTION ALTERNATIVE FUELS ANHYDROUS ETHANOL APPROACH AUTOMOTIVE FUEL AVAILABILITY AVERAGE PRICE AVIATION FUEL BACKUP POWER BALANCE BARREL BARRELS PER DAY BIOMASS BLACK MARKET BLACK MARKETS BORDER PRICES BUSES CAR CAR TRIPS CARS COAL COMMERCIAL RESERVES COMMODITY PRICE COMPACT FLUORESCENT LIGHT BULBS CONGESTION CONSUMPTION OF PETROLEUM CONSUMPTION OF POWER COST OF ETHANOL COSTS OF ELECTRICITY CRUDE OIL CRUDE OIL PRICE DEMAND FOR PETROLEUM PRODUCTS DIESEL DIESEL FUEL DOMESTIC CRUDE OIL DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC REFINING DRIVERS DRIVING ECONOMIES OF SCALE EFFICIENCY IMPROVEMENT EFFICIENT LIGHTING EFFICIENT TRAVEL ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY GENERATION EMERGING MARKETS ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY PRICES ETHANOL ETHANOL DEMAND ETHANOL IN GASOLINE ETHANOL PRODUCTION ETHANOL PROGRAM EXPENDITURE EXPENDITURES FEEDSTOCK FEEDSTOCK COSTS FEEDSTOCK PRICES FEEDSTOCKS FINANCIAL INCENTIVES FINANCIAL PERFORMANCE FOSSIL FOSSIL FUEL FREIGHT FUEL FUEL ADULTERATION FUEL CONSERVATION FUEL CONSUMPTION FUEL COSTS FUEL ECONOMY FUEL EFFICIENCY FUEL EFFICIENCY IMPROVEMENT FUEL EFFICIENCY STANDARDS FUEL MARKET FUEL OIL FUEL PRICE FUEL PRICE INCREASES FUEL PRICES FUEL PRICING FUEL QUALITY FUEL SHORTAGES FUEL SPECIFICATIONS FUEL STORAGE FUEL STORAGE CAPACITY FUEL SUBSIDIES FUEL SUPPLY FUEL SWITCHING FUEL TANKS FUEL TAX FUEL USE FUELS GAS GAS COMPANIES GASOLINE GASOLINE PRICE HOUSEHOLD FUEL HYDROPOWER HYDROPOWER GENERATION INFLATION INTERNATIONAL CRUDE OIL KEROSENE KEROSENE CONSUMPTION KEROSENE SUBSIDIES LAND USE LIQUEFIED PETROLEUM GAS LIQUID FUELS MARGINAL COST MARKET ENTRY MARKET PRICE MARKET PRICES MARKETING MONOPOLY MOTORISTS NATIONAL OIL NATIONAL OIL COMPANIES NATURAL GAS NATURAL GAS MARKET NATURAL GAS PRICES NET OIL OIL OIL COMPANIES OIL COMPANY OIL CONSUMPTION OIL EXPORTERS OIL EXPORTING COUNTRIES OIL IMPORTS OIL INDUSTRY OIL PIPELINE OIL PRICE OIL PRICE CHANGES OIL PRICES OIL PRICING OIL PRICING POLICY OIL PRODUCTION OIL USE OILS PASSENGER TRANSPORT PEAK POWER PETROLEUM PETROLEUM DIESEL PETROLEUM GAS PETROLEUM PRICE PETROLEUM PRODUCT PRICES PETROLEUM PRODUCT PRICING PETROLEUM PRODUCTS PETROLEUM SECTOR POWER POWER CONSUMPTION POWER GENERATION POWER SECTOR POWER SHORTAGES PRICE ADJUSTMENT PRICE ADJUSTMENTS PRICE CEILINGS PRICE CHANGE PRICE CHANGES PRICE COMPETITION PRICE CONTROL PRICE CONTROLS PRICE FREEZE PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE LEVELS PRICE OF DIESEL PRICE OF GASOLINE PRICE OF OIL PRICE RISK PRICE STABILIZATION PRICE SUBSIDIES PRICE VOLATILITY PRICING MECHANISM PRICING MECHANISMS PRICING POLICIES PRICING REFORM PRODUCT PRICING PROFIT MARGIN PUBLIC PASSENGER TRANSPORT PUBLIC PERCEPTION PUBLIC SAFETY PUBLIC TRANSPORT RAIL REDUCING ENERGY CONSUMPTION REDUCTION IN FUEL CONSUMPTION REFINERIES REFINERY CLOSURES REGULAR GASOLINE RENEWABLE ENERGY RESIDENTIAL CONSUMERS RETAIL RETAIL PRICE RETAIL PRICES ROAD ROAD TRANSPORT SAFETY SALE SALES SOLAR WATER HEATERS SOYBEAN OIL SPOT PRICES SPREAD STABLE PRICES STREET LIGHTING STREETS SUBSTITUTE SUGAR CANE SUGARCANE SUGARCANE CULTIVATION SUPPLIERS SUPPLY CHAIN SUPPLY COSTS SUSTAINABLE ENERGY TAX TAX REVENUES TIRES TRANSIT TRANSPORT TRANSPORT SYSTEM TRANSPORT SYSTEM EFFICIENCY TRANSPORTATION TRANSPORTATION COSTS TRANSPORTATION FUELS TRAVEL MODES TRUCKS TRUE URBAN TRANSPORT UTILITIES UTILITY COMPANY VEHICLE VEHICLE DRIVERS VEHICLE FUEL VEHICLE FUEL ECONOMY VEHICLE POPULATION VEHICLES WHOLESALE PRICE WHOLESALE PRICES WIND WORLD MARKET WORLD OIL PRICES Unable to cope fully with steadily climbing world oil prices since mid-2009, many of the 65 countries reviewed in this paper have progressed slowly or even reversed course in reforming pricing of petroleum products. End-user prices in July 2012 varied by two orders of magnitude across the countries. More than two-fifths, including some that had only recently adopted automatic pricing mechanisms, froze the prices of gasoline, diesel, or both for months or even years on end during the study period. When the prices were finally adjusted, the increases were sometimes substantial, leading to large-scale protests, partial or full reversals of price adjustments, or softening of pricing reform policy. Governments' attempts to keep domestic prices artificially low -- through price control, export or quantity restrictions, or political pressure put on oil companies -- have helped curb inflation in the short term, but frequently with serious negative consequences: flourishing black markets, smuggling, fuel adulteration, illegal diversion of subsidy funds, large financial losses suffered by fuel suppliers, deteriorating refining and other infrastructure, and acute fuel shortages causing economy-wide damage. In several countries, subsidies, price controls, and other restrictions have helped protect inefficient refineries and oil marketers. Mitigation responses have included fuel conservation programs; fuel diversification, particularly liquid biofuels to substitute gasoline and diesel; and efforts to lower costs of supply, including strengthening infrastructure, promoting price competition, hedging, negotiating price discounts with exporters, and bulk procurement. Various forms of assistance to consumers have also been offered, especially to households, agriculture, transport, and fisheries. 2013-04-18T16:33:47Z 2013-04-18T16:33:47Z 2013-04 http://documents.worldbank.org/curated/en/2013/04/17513782/petroleum-product-pricing-complementary-policies-experience-65-developing-countries-2009 http://hdl.handle.net/10986/13201 English en_US Policy Research Working Paper;No. 6396 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |