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Resellers' Regulated Demand Price of 93 Octane Petrol in Namibia Relative to OPEC Crude Oil Price, 1991

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  • Voxi H.S. Amavilah

    (Glendale College)

Abstract

This paper examines the efficiency implications of regulated demand price of 93 octane petrol relative to OPEC crude oil price across 183 Namibian localities in 1991. It describes briefly pricing problems associated with managing petroleum and petro-products. Assuming that demand price depends on expected profits and the quantities demanded and supplied, econometric estimations show actual average petrol prices higher than estimated (optimal) prices. Petrol prices are higher in Namibia than in either OPEC countries or the rest of the world, with the exception of the OECD countries. Two measures of efficiency conclude that managed prices in Namibia are non-optimal, and therefore recommend liberalization of the petrol industry in order to increase actual competition, efficiency, and consumer surplus, and lower prices.

Suggested Citation

  • Voxi H.S. Amavilah, 2003. "Resellers' Regulated Demand Price of 93 Octane Petrol in Namibia Relative to OPEC Crude Oil Price, 1991," Others 0307001, EconWPA.
  • Handle: RePEc:wpa:wuwpot:0307001 Note: Type of Document - WordPerfect; prepared on IBM PC - PC; to print on HP/PostScript; pages: 22 ; figures: request from author. I never published this piece and now I would like to reduce mailing and xerox cost by posting it.
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    References listed on IDEAS

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    1. Weersink, Alfons & McKitrick, Ross & Nailor, Mike, 2001. "Voluntary Cost-Share Programs: Lessons from Economic Theory and Their Application to Rural Water Quality Programs," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 02.
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    More about this item

    Keywords

    demand for petrol in Namibia;

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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