Reforming Fuel Pricing in an Age of $100 Oil
Increases in world oil prices since 2004 have challenged consumers and oil-importing countries across the world. Oil prices temporarily fell sharply in 2009, only to triple three years later. The oil import share of gross domestic product rose by n...
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| Format: | Energy Study |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/01/18019602/reforming-fuel-pricing-age-100-oil http://hdl.handle.net/10986/16524 |
| id |
okr-10986-16524 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADVERSE EFFECTS AGRICULTURE AIR POLLUTION APPROACH ATMOSPHERIC PRESSURE AVAILABILITY AVERAGE PRICE AVERAGE PRICES BALANCE BARRELS PER DAY BASE YEAR BENCHMARK BLACK MARKET BLACK MARKETS CASH FLOW COLLUSION COMMERCIALIZATION COMMODITIES COMMODITY COMMODITY PRICE COMPETITIVE MARKET COMPETITIVE MARKETS CONFIDENTIALITY CONSUMER PRICE CONSUMER PRICE INDEX CONSUMERS CONTROLLED PRICES CORPORATE TAX CRUDE OIL CURRENCY APPRECIATION CURRENT ACCOUNT BALANCE DECISION MAKING DELIVERY MECHANISM DEREGULATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AGENCY DIESEL DIESEL FUEL DIVIDENDS DOMESTIC INFLATION DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC OIL DOMESTIC PRICE DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIES OF SCALE EFFICIENCY IMPROVEMENT ELECTRICITY ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY USE ETHANOL EXCHANGE RATE EXPENDITURE EXPENDITURES FAIR FAIR TRADING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CONTRACT FINANCIAL CRISIS FOOD PRICES FOSSIL FOSSIL FUEL FUEL FUEL OIL FUEL PRICES FUEL SUPPLY FUEL SWITCHING FUEL TYPE FUTURE PRICES FUTURES GAS GASOLINE GASOLINE PRICE GASOLINE PRICES GDP GDP PER CAPITA GLOBAL MARKET GLOBALIZATION GOOD GOVERNANCE GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GOVERNMENT INVOLVEMENT GROSS DOMESTIC PRODUCT HYDROPOWER HYDROPOWER GENERATION INCOME INCOME GROUP INCOME GROUPS INCOME TAX INEFFICIENCY INFLATION INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITY INSURANCE INTERNATIONAL COOPERATION INTERNATIONAL MARKET INTERNATIONAL TRADE KEROSENE LIQUID FUELS LOCAL CURRENCY LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MARKET CONCENTRATION MARKET CONDITIONS MARKET DISTORTIONS MARKET INCENTIVES MARKET PRICES MARKET STRUCTURE MERIT GOOD MIDDLE-INCOME COUNTRIES MONOPOLIES MONOPOLY NATIONAL ECONOMIES NATURAL DISASTERS NATURAL GAS NATURAL GAS CONSUMPTION NATURAL GAS PRICES NATURAL GAS PRODUCTION NATURAL MONOPOLIES NET OIL OIL OIL COMPANIES OIL COMPANY OIL CONSUMPTION OIL DEMAND OIL EXPORTERS OIL EXPORTS OIL FUELS OIL IMPORTS OIL INDUSTRY OIL INFRASTRUCTURE OIL MARKETS OIL PRICE OIL PRICES OIL PRODUCING OIL PRODUCING COUNTRIES OIL PRODUCTION OIL PRODUCTS OIL REFINING OIL SUPPLY OPPORTUNITY COST OPPORTUNITY COSTS OUTPUT PETROLEUM PETROLEUM GAS PETROLEUM INDUSTRY PETROLEUM PRODUCTS POLITICAL ECONOMY POLITICAL SYSTEM POLLUTION POVERTY ALLEVIATION POWER POWER GENERATION POWER PARITY POWER SECTOR POWER SHORTAGES PRICE ADJUSTMENT PRICE ADJUSTMENTS PRICE BAND PRICE BANDS PRICE CEILINGS PRICE CHANGE PRICE CHANGES PRICE COMPETITION PRICE CONTROL PRICE CONTROLS PRICE DECREASES PRICE EFFECT PRICE INCREASE PRICE INCREASES PRICE LEVEL PRICE LEVELS PRICE MOVEMENTS PRICE OF OIL PRICE REGULATION PRICE RISKS PRICE SPIKES PRICE STABILITY PRICE STABILIZATION PRICE SUBSIDIES PRICE SUBSIDY PRICE VARIATION PRICE VOLATILITY PRICING MECHANISMS PRICING POLICIES PRICING POLICY PRICING POLICY REFORM PRICING REFORM PROFIT MARGINS PUBLIC UTILITIES PURCHASING PURCHASING POWER REGRESSION ANALYSIS REGULAR GASOLINE REMOTE AREAS RETAIL RETAIL PRICES SALE SALES SAVINGS SINGLE MARKET SOCIAL PROTECTION SOCIAL SAFETY NETS SPOT PRICE SPOT PRICES STABLE PRICES SUBSTITUTES SUPPLIERS SUPPLY CHAIN SUSTAINABLE ENERGY TARIFF STRUCTURE TAX TAX EXPENDITURES TAX RATES TAX REVENUE TAXATION TRACK RECORD TRANSPARENCY TRANSPARENCY INITIATIVE VEHICLES WHOLESALE GASOLINE WHOLESALE PRICES WORLD MARKET |
| spellingShingle |
ADVERSE EFFECTS AGRICULTURE AIR POLLUTION APPROACH ATMOSPHERIC PRESSURE AVAILABILITY AVERAGE PRICE AVERAGE PRICES BALANCE BARRELS PER DAY BASE YEAR BENCHMARK BLACK MARKET BLACK MARKETS CASH FLOW COLLUSION COMMERCIALIZATION COMMODITIES COMMODITY COMMODITY PRICE COMPETITIVE MARKET COMPETITIVE MARKETS CONFIDENTIALITY CONSUMER PRICE CONSUMER PRICE INDEX CONSUMERS CONTROLLED PRICES CORPORATE TAX CRUDE OIL CURRENCY APPRECIATION CURRENT ACCOUNT BALANCE DECISION MAKING DELIVERY MECHANISM DEREGULATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AGENCY DIESEL DIESEL FUEL DIVIDENDS DOMESTIC INFLATION DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC OIL DOMESTIC PRICE DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIES OF SCALE EFFICIENCY IMPROVEMENT ELECTRICITY ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY USE ETHANOL EXCHANGE RATE EXPENDITURE EXPENDITURES FAIR FAIR TRADING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CONTRACT FINANCIAL CRISIS FOOD PRICES FOSSIL FOSSIL FUEL FUEL FUEL OIL FUEL PRICES FUEL SUPPLY FUEL SWITCHING FUEL TYPE FUTURE PRICES FUTURES GAS GASOLINE GASOLINE PRICE GASOLINE PRICES GDP GDP PER CAPITA GLOBAL MARKET GLOBALIZATION GOOD GOVERNANCE GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GOVERNMENT INVOLVEMENT GROSS DOMESTIC PRODUCT HYDROPOWER HYDROPOWER GENERATION INCOME INCOME GROUP INCOME GROUPS INCOME TAX INEFFICIENCY INFLATION INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITY INSURANCE INTERNATIONAL COOPERATION INTERNATIONAL MARKET INTERNATIONAL TRADE KEROSENE LIQUID FUELS LOCAL CURRENCY LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MARKET CONCENTRATION MARKET CONDITIONS MARKET DISTORTIONS MARKET INCENTIVES MARKET PRICES MARKET STRUCTURE MERIT GOOD MIDDLE-INCOME COUNTRIES MONOPOLIES MONOPOLY NATIONAL ECONOMIES NATURAL DISASTERS NATURAL GAS NATURAL GAS CONSUMPTION NATURAL GAS PRICES NATURAL GAS PRODUCTION NATURAL MONOPOLIES NET OIL OIL OIL COMPANIES OIL COMPANY OIL CONSUMPTION OIL DEMAND OIL EXPORTERS OIL EXPORTS OIL FUELS OIL IMPORTS OIL INDUSTRY OIL INFRASTRUCTURE OIL MARKETS OIL PRICE OIL PRICES OIL PRODUCING OIL PRODUCING COUNTRIES OIL PRODUCTION OIL PRODUCTS OIL REFINING OIL SUPPLY OPPORTUNITY COST OPPORTUNITY COSTS OUTPUT PETROLEUM PETROLEUM GAS PETROLEUM INDUSTRY PETROLEUM PRODUCTS POLITICAL ECONOMY POLITICAL SYSTEM POLLUTION POVERTY ALLEVIATION POWER POWER GENERATION POWER PARITY POWER SECTOR POWER SHORTAGES PRICE ADJUSTMENT PRICE ADJUSTMENTS PRICE BAND PRICE BANDS PRICE CEILINGS PRICE CHANGE PRICE CHANGES PRICE COMPETITION PRICE CONTROL PRICE CONTROLS PRICE DECREASES PRICE EFFECT PRICE INCREASE PRICE INCREASES PRICE LEVEL PRICE LEVELS PRICE MOVEMENTS PRICE OF OIL PRICE REGULATION PRICE RISKS PRICE SPIKES PRICE STABILITY PRICE STABILIZATION PRICE SUBSIDIES PRICE SUBSIDY PRICE VARIATION PRICE VOLATILITY PRICING MECHANISMS PRICING POLICIES PRICING POLICY PRICING POLICY REFORM PRICING REFORM PROFIT MARGINS PUBLIC UTILITIES PURCHASING PURCHASING POWER REGRESSION ANALYSIS REGULAR GASOLINE REMOTE AREAS RETAIL RETAIL PRICES SALE SALES SAVINGS SINGLE MARKET SOCIAL PROTECTION SOCIAL SAFETY NETS SPOT PRICE SPOT PRICES STABLE PRICES SUBSTITUTES SUPPLIERS SUPPLY CHAIN SUSTAINABLE ENERGY TARIFF STRUCTURE TAX TAX EXPENDITURES TAX RATES TAX REVENUE TAXATION TRACK RECORD TRANSPARENCY TRANSPARENCY INITIATIVE VEHICLES WHOLESALE GASOLINE WHOLESALE PRICES WORLD MARKET Kojima, Masami Reforming Fuel Pricing in an Age of $100 Oil |
| description |
Increases in world oil prices since 2004
have challenged consumers and oil-importing countries across
the world. Oil prices temporarily fell sharply in 2009, only
to triple three years later. The oil import share of gross
domestic product rose by nearly half among net oil importers
in just two years between 2009 and 2011. Governments that
control oil product prices have come under pressure to
intervene by keeping domestic prices low and effectively
subsidizing consumers. This study focuses on the evolving
role of oil in national economies, particularly those of
developing countries, and proposes a menu of options for
drawing a roadmap for pricing policy reform for oil
products. In light of events since 2009, it examines how
recent price movements have affected countries'
vulnerability to world oil price increases, how governments
have adjusted domestic fuel prices in response, the
consequences of the policy responses, other coping
mechanisms to deal with high oil prices and price
volatility, the roadblocks to reforming pricing policy, and
how to deal with them. This report suggests a menu of
options for moving away from sectoral subsidies to
market-based pricing, accompanied by an integrated social
protection program and complementary policies to reduce
consumption through efficiency improvement and fuel
diversification. Sending the right price signals and
reducing consumption can bring many benefits, ranging from
greater supply security to less congestion and pollution
from road transport. This report can help policy makers
conduct more informed national dialogues on managing fuel
pricing and the political economy around it. |
| format |
Economic & Sector Work :: Energy Study |
| author |
Kojima, Masami |
| author_facet |
Kojima, Masami |
| author_sort |
Kojima, Masami |
| title |
Reforming Fuel Pricing in an Age of $100 Oil |
| title_short |
Reforming Fuel Pricing in an Age of $100 Oil |
| title_full |
Reforming Fuel Pricing in an Age of $100 Oil |
| title_fullStr |
Reforming Fuel Pricing in an Age of $100 Oil |
| title_full_unstemmed |
Reforming Fuel Pricing in an Age of $100 Oil |
| title_sort |
reforming fuel pricing in an age of $100 oil |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/01/18019602/reforming-fuel-pricing-age-100-oil http://hdl.handle.net/10986/16524 |
| _version_ |
1764433917936402432 |
| spelling |
okr-10986-165242021-04-23T14:03:31Z Reforming Fuel Pricing in an Age of $100 Oil Kojima, Masami ADVERSE EFFECTS AGRICULTURE AIR POLLUTION APPROACH ATMOSPHERIC PRESSURE AVAILABILITY AVERAGE PRICE AVERAGE PRICES BALANCE BARRELS PER DAY BASE YEAR BENCHMARK BLACK MARKET BLACK MARKETS CASH FLOW COLLUSION COMMERCIALIZATION COMMODITIES COMMODITY COMMODITY PRICE COMPETITIVE MARKET COMPETITIVE MARKETS CONFIDENTIALITY CONSUMER PRICE CONSUMER PRICE INDEX CONSUMERS CONTROLLED PRICES CORPORATE TAX CRUDE OIL CURRENCY APPRECIATION CURRENT ACCOUNT BALANCE DECISION MAKING DELIVERY MECHANISM DEREGULATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AGENCY DIESEL DIESEL FUEL DIVIDENDS DOMESTIC INFLATION DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC OIL DOMESTIC PRICE DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIES OF SCALE EFFICIENCY IMPROVEMENT ELECTRICITY ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY USE ETHANOL EXCHANGE RATE EXPENDITURE EXPENDITURES FAIR FAIR TRADING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CONTRACT FINANCIAL CRISIS FOOD PRICES FOSSIL FOSSIL FUEL FUEL FUEL OIL FUEL PRICES FUEL SUPPLY FUEL SWITCHING FUEL TYPE FUTURE PRICES FUTURES GAS GASOLINE GASOLINE PRICE GASOLINE PRICES GDP GDP PER CAPITA GLOBAL MARKET GLOBALIZATION GOOD GOVERNANCE GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GOVERNMENT INVOLVEMENT GROSS DOMESTIC PRODUCT HYDROPOWER HYDROPOWER GENERATION INCOME INCOME GROUP INCOME GROUPS INCOME TAX INEFFICIENCY INFLATION INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITY INSURANCE INTERNATIONAL COOPERATION INTERNATIONAL MARKET INTERNATIONAL TRADE KEROSENE LIQUID FUELS LOCAL CURRENCY LOW-INCOME COUNTRIES MACROECONOMIC PERFORMANCE MARKET CONCENTRATION MARKET CONDITIONS MARKET DISTORTIONS MARKET INCENTIVES MARKET PRICES MARKET STRUCTURE MERIT GOOD MIDDLE-INCOME COUNTRIES MONOPOLIES MONOPOLY NATIONAL ECONOMIES NATURAL DISASTERS NATURAL GAS NATURAL GAS CONSUMPTION NATURAL GAS PRICES NATURAL GAS PRODUCTION NATURAL MONOPOLIES NET OIL OIL OIL COMPANIES OIL COMPANY OIL CONSUMPTION OIL DEMAND OIL EXPORTERS OIL EXPORTS OIL FUELS OIL IMPORTS OIL INDUSTRY OIL INFRASTRUCTURE OIL MARKETS OIL PRICE OIL PRICES OIL PRODUCING OIL PRODUCING COUNTRIES OIL PRODUCTION OIL PRODUCTS OIL REFINING OIL SUPPLY OPPORTUNITY COST OPPORTUNITY COSTS OUTPUT PETROLEUM PETROLEUM GAS PETROLEUM INDUSTRY PETROLEUM PRODUCTS POLITICAL ECONOMY POLITICAL SYSTEM POLLUTION POVERTY ALLEVIATION POWER POWER GENERATION POWER PARITY POWER SECTOR POWER SHORTAGES PRICE ADJUSTMENT PRICE ADJUSTMENTS PRICE BAND PRICE BANDS PRICE CEILINGS PRICE CHANGE PRICE CHANGES PRICE COMPETITION PRICE CONTROL PRICE CONTROLS PRICE DECREASES PRICE EFFECT PRICE INCREASE PRICE INCREASES PRICE LEVEL PRICE LEVELS PRICE MOVEMENTS PRICE OF OIL PRICE REGULATION PRICE RISKS PRICE SPIKES PRICE STABILITY PRICE STABILIZATION PRICE SUBSIDIES PRICE SUBSIDY PRICE VARIATION PRICE VOLATILITY PRICING MECHANISMS PRICING POLICIES PRICING POLICY PRICING POLICY REFORM PRICING REFORM PROFIT MARGINS PUBLIC UTILITIES PURCHASING PURCHASING POWER REGRESSION ANALYSIS REGULAR GASOLINE REMOTE AREAS RETAIL RETAIL PRICES SALE SALES SAVINGS SINGLE MARKET SOCIAL PROTECTION SOCIAL SAFETY NETS SPOT PRICE SPOT PRICES STABLE PRICES SUBSTITUTES SUPPLIERS SUPPLY CHAIN SUSTAINABLE ENERGY TARIFF STRUCTURE TAX TAX EXPENDITURES TAX RATES TAX REVENUE TAXATION TRACK RECORD TRANSPARENCY TRANSPARENCY INITIATIVE VEHICLES WHOLESALE GASOLINE WHOLESALE PRICES WORLD MARKET Increases in world oil prices since 2004 have challenged consumers and oil-importing countries across the world. Oil prices temporarily fell sharply in 2009, only to triple three years later. The oil import share of gross domestic product rose by nearly half among net oil importers in just two years between 2009 and 2011. Governments that control oil product prices have come under pressure to intervene by keeping domestic prices low and effectively subsidizing consumers. This study focuses on the evolving role of oil in national economies, particularly those of developing countries, and proposes a menu of options for drawing a roadmap for pricing policy reform for oil products. In light of events since 2009, it examines how recent price movements have affected countries' vulnerability to world oil price increases, how governments have adjusted domestic fuel prices in response, the consequences of the policy responses, other coping mechanisms to deal with high oil prices and price volatility, the roadblocks to reforming pricing policy, and how to deal with them. This report suggests a menu of options for moving away from sectoral subsidies to market-based pricing, accompanied by an integrated social protection program and complementary policies to reduce consumption through efficiency improvement and fuel diversification. Sending the right price signals and reducing consumption can bring many benefits, ranging from greater supply security to less congestion and pollution from road transport. This report can help policy makers conduct more informed national dialogues on managing fuel pricing and the political economy around it. 2014-01-07T23:32:02Z 2014-01-07T23:32:02Z 2013-01 http://documents.worldbank.org/curated/en/2013/01/18019602/reforming-fuel-pricing-age-100-oil http://hdl.handle.net/10986/16524 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Energy Study Economic & Sector Work |