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Domestic Petroleum Product Prices and Subsidies

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Author Info

  • David Coady
  • Taimur Baig
  • Joseph Ntamatungiro
  • Amine Mati
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    Abstract

    The paper reviews recent developments in the pass-through of international to domestic petroleum product prices, in the different fuel pricing regimes, and in fuel subsidies in a range of emerging market and developing economies. The main finding of the paper is the limited price pass-through in many countries and the consequent increase in fuel subsidies. The paper proposes that key elements of a successful strategy to contain subsidies should comprise: making subsidies explicit; making pricing mechanisms more robust; combining reductions in subsidies with measures to protect the poorest; using the resulting savings well, and transparency and consultation.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 07/71.

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    Length: 24
    Date of creation: 01 Mar 2007
    Date of revision:
    Handle: RePEc:imf:imfwpa:07/71

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    Related research

    Keywords: Subsidies; Oil subsidies; fuel prices; subsidy; petroleum products; fuel price; price subsidies; oil prices; petroleum product prices; crude oil; fuel pricing; petroleum pricing; gasoline prices; petroleum prices; refinery price; ex-refinery price; national oil; safety net; oil exporting countries; oil company; oil importing countries; fuel taxes; crude oil prices; cash transfers; fuel oil; oil importers; oil exporter; international oil prices; oil exporters; safety net program; oil-producing countries; gasoline pricing; oil-importing countries; world oil prices; oil producing; oil producers; domestic crude oil; fuel oils; petroleum product pricing; oil importer; oil imports; electricity subsidies; oil marketing companies; crude oil price; oil market; subsidizing; higher oil prices; social safety net; social safety nets; oil products; safety nets; world market prices; subsidization; petroleum corporation; cash transfer; oil producing countries; cash transfer program; fuel exports; oil marketing;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Sanjeev Gupta & Benedict J. Clements & Kevin Fletcher & Gabriela Inchauste, 2002. "Issues in Domestic Petroleum Pricing in Oil-Producing Countries," IMF Working Papers 02/140, International Monetary Fund.
    2. Robert Gillingham & David Locke Newhouse & David Coady & Kangni Kpodar & Moataz El-Said & Paulo A. Medas, 2006. "The Magnitude and Distribution of Fuel Subsidies," IMF Working Papers 06/247, International Monetary Fund.
    3. Benedict F. W. Bingham & James Daniel & Giulio Federico, 2001. "Domestic Petroleum Price Smoothing in Developing and Transition Countries," IMF Working Papers 01/75, International Monetary Fund.
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    Citations

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    Cited by:
    1. Daniel Artana & Fernando Navajas & Marcelo Catena, 2007. "El Shock de los Precios del Petróleo en América Central: Implicancias Fiscales y Energéticas," IDB Publications 7650, Inter-American Development Bank.
    2. Margaret Grosh & Carlo del Ninno & Emil Tesliuc & Azedine Ouerghi, 2008. "For Protection and Promotion : The Design and Implementation of Effective Safety Nets," World Bank Publications, The World Bank, number 6582, October.
    3. Plante, Michael, 2014. "The long-run macroeconomic impacts of fuel subsidies," Journal of Development Economics, Elsevier, vol. 107(C), pages 129-143.
    4. Paul Segal, 2011. "How to spend it: resource wealth and the distribution of resource rents," LSE Research Online Documents on Economics 55664, London School of Economics and Political Science, LSE Library.
    5. Paulo A. Medas & Daria Zakharova, 2009. "A Primeron Fiscal Analysis in Oil-Producing Countries," IMF Working Papers 09/56, International Monetary Fund.
    6. Jha, Shikha & Quising, Pilipinas & Camingue, Shiela, 2009. "Macroeconomic Uncertainties, Oil Subsidies, and Fiscal Sustainability in Asia," ADB Economics Working Paper Series 150, Asian Development Bank.
    7. Marcos Poplawski-Ribeiro & Darlena Tartari & Carlos Caceres, 2011. "Inflation Dynamics in the CEMAC Region," IMF Working Papers 11/232, International Monetary Fund.
    8. World Bank, 2011. "Petroleum Product Markets in Sub-Saharan Africa : Comparative Efficiency Analysis of 12 Countries," World Bank Other Operational Studies 2743, The World Bank.
    9. Plante, Michael, 2011. "The long-run macroeconomic impacts of fuel subsidies in an oil-importing developing country," MPRA Paper 33823, University Library of Munich, Germany.
    10. Lopez, Ramon E. & Islam, Asif M., 2008. "When Government Spending Serves the Elites: Consequences for Economic Growth in a Context of Market Imperfections," Working Papers 45875, University of Maryland, Department of Agricultural and Resource Economics.
    11. World Bank, 2011. "Climate Change and Fiscal Policy : A Report for APEC," World Bank Other Operational Studies 2734, The World Bank.

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