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A Global Assessment of Domestic Petroleum Fuel Prices

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dc.contributor.authorAkcura, Elcin
dc.date.accessioned2025-06-26T21:39:46Z
dc.date.available2025-06-26T21:39:46Z
dc.date.issued2025-06-26
dc.description.abstractOil prices have been increasingly volatile since 2004. However, the impact of this volatility on domestic end-user prices differs significantly by fuel and country. Some countries fully pass through global price movements to domestic end-user prices, and some countries freeze domestic fuel prices for long periods of time. Fuel subsidies emerge or grow if domestic prices significantly diverge from international prices in times of rising international oil prices. This paper draws on two new databases developed by the author for the purposes of this paper to analyze the degree of pass-through of international price volatility onto domestic consumers for eight fuels between December 2017 and December 2023 for up to 125 economies, depending on the fuel. This period saw significant oil price volatility on account of events such as the COVID-19 pandemic and the war in Ukraine. The paper finds that domestic prices in many countries did not follow international fuel prices within the period analyzed. Countries with price controls had much lower levels of pass-through than those with price deregulation. Countries that adjusted their fuel prices at frequent intervals (weekly or monthly) had higher levels of price pass-through than those adjusting them quarterly or less frequently. Currency depreciation and the existence of an official fuel subsidy are associated with lower levels of price pass-through, and the impact of being a net crude oil or net refined fuel exporter is mixed. The results show that not tracking international prices closely is associated with higher incidences of fuel shortages, fuel smuggling, and fuel black marketing.en
dc.identifierhttp://documents.worldbank.org/curated/en/099201506262520258
dc.identifier.doihttps://doi.org/10.1596/1813-9450-11153
dc.identifier.urihttps://hdl.handle.net/10986/43388
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 11153
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectFUEL SUBSIDIES
dc.subjectRETAIL FUEL PRICES
dc.subjectPRICE PASS-THROUGH
dc.subjectGASOLINE
dc.subjectDIESEL
dc.subjectKEROSENE
dc.subjectLIQUEFIED PETROLEUM GAS
dc.subjectHEAVY FUEL OIL
dc.titleA Global Assessment of Domestic Petroleum Fuel Pricesen
dc.typeWorking Paper
dspace.entity.typePublication
okr.date.disclosure2025-06-26
okr.date.doiregistration2025-06-28T02:10:51.230811Z
okr.date.lastmodified2025-06-26T20:06:12Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099201506262520258
okr.guid099201506262520258
okr.identifier.docmidIDU-eac210c9-6038-4c67-bcb7-731e2d348fed
okr.identifier.doi10.1596/1813-9450-11153
okr.identifier.externaldocumentum40025384
okr.identifier.internaldocumentum40025384
okr.identifier.reportWPS11153
okr.import.id7795
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttps://documents.worldbank.org/curated/en/099201506262520258/pdf/IDU-eac210c9-6038-4c67-bcb7-731e2d348fed.pdfen
okr.region.geographicalWorld
okr.sectorFY17 - Public Administration - Energy and Extractives
okr.sectorEnergy and Extractives
okr.themeFY17 - Energy,FY17 - Climate change,FY17 - Mitigation,FY17 - Data production, accessibility and use,FY17 - Data Development and Capacity Building,FY17 - Energy Policies & Reform
okr.themeFY17 - Environment and Natural Resource Management,FY17 - Public Sector Management
okr.topicMacroeconomics and Economic Growth::Inflation
okr.topicMacroeconomics and Economic Growth::Taxation & Subsidies
okr.topicEnergy::Energy Finance
okr.topicEnergy::Energy Demand
okr.unitCEAR3 - Regional Mission in Hanoi
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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