Publication:
Oil Price Risks and Pump Price Adjustments

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dc.contributor.authorKojima, Masami
dc.date.accessioned2013-01-03T17:47:23Z
dc.date.available2013-01-03T17:47:23Z
dc.date.issued2012-10
dc.description.abstractBetween 1999 and 2008, world oil prices more than quadrupled in real terms. For oil importers, vulnerability to oil price increases, defined as the share of gross domestic product spent on net oil imports, rose considerably. Considering medians, low-income countries had the highest vulnerability in 2008 and the highest increase in vulnerability between 1999 and 2008. When changes in vulnerability were decomposed into several contributing factors, more than two-thirds of 170 countries studied were found to have offset the increase in the value of oil consumption by reducing the oil intensity of gross domestic product. Oil intensity fell in more than half the countries in every income group and in every region of the world, driven by falling energy intensity and, to a lesser extent, the oil share of energy. This study also examines the degree of pass-through to consumers of increases in world prices of gasoline, diesel, kerosene, and liquefied petroleum gas between January 2009 and January 2012, when oil prices in nominal U.S. dollars more than doubled. Retail fuel prices varied by two orders of magnitude in 2012, and oil-exporting countries were far less likely to pass on price increases. Gasoline had the highest pass-through, followed by diesel, liquefied petroleum gas, and kerosene. The median pass-through increased with income for gasoline, diesel, and kerosene, but was highest in low-income countries for liquefied petroleum gas. Despite divergent pricing policies, the pass-through coefficients of different fuels were strongly positively correlated, suggesting that the degrees to which domestic prices tracked world prices were comparable for the four fuels in many countries.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/10/16831268/oil-price-risks-pump-price-adjustments
dc.identifier.doi10.1596/1813-9450-6227
dc.identifier.urihttps://hdl.handle.net/10986/12062
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 6227
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAPPROACH
dc.subjectAUTOMOTIVE DIESEL
dc.subjectAVERAGE PRICE
dc.subjectAVERAGE PRICES
dc.subjectBALANCE
dc.subjectBARREL
dc.subjectBIOGAS
dc.subjectBLACK MARKET
dc.subjectCOMMERCIAL ENERGY
dc.subjectCOMMERCIAL ENERGY CONSUMPTION
dc.subjectCONSUMPTION OF OIL
dc.subjectCRUDE OIL
dc.subjectCRUDE OIL PRICES
dc.subjectDEMAND MANAGEMENT
dc.subjectDIESEL
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC OIL
dc.subjectDOMESTIC OIL PRODUCTION
dc.subjectEFFICIENCY IMPROVEMENT
dc.subjectELECTRICITY
dc.subjectENERGY CONSERVATION
dc.subjectENERGY CONSUMPTION
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY INFORMATION ADMINISTRATION
dc.subjectENERGY PRICES
dc.subjectENERGY USE
dc.subjectFUEL
dc.subjectFUEL CONSUMPTION
dc.subjectFUEL OIL
dc.subjectFUEL PRICE
dc.subjectFUEL PRICES
dc.subjectFUEL PRICING
dc.subjectFUEL QUALITY
dc.subjectFUEL USE
dc.subjectFUELS
dc.subjectGAS
dc.subjectGASOLINE
dc.subjectGASOLINE PRICE
dc.subjectGASOLINE PRICES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHIGH ENERGY INTENSITY
dc.subjectHIGH-SULFUR
dc.subjectHIGHER OIL PRICES
dc.subjectIMPORT TERMINALS
dc.subjectINCOME
dc.subjectINTERNATIONAL ENERGY AGENCY
dc.subjectINTERNATIONAL MARKET
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectKEROSENE
dc.subjectLIQUEFIED PETROLEUM GAS
dc.subjectMARKET PRICES
dc.subjectMARKETING
dc.subjectMONTHLY AVERAGE PRICES
dc.subjectNET OIL
dc.subjectOIL
dc.subjectOIL COMPANIES
dc.subjectOIL CONSUMPTION
dc.subjectOIL EXPORTER
dc.subjectOIL EXPORTERS
dc.subjectOIL EXPORTING
dc.subjectOIL EXPORTING COUNTRIES
dc.subjectOIL EXPORTS
dc.subjectOIL IMPORT
dc.subjectOIL IMPORTER
dc.subjectOIL IMPORTERS
dc.subjectOIL IMPORTS
dc.subjectOIL MARKETS
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOIL PRICING
dc.subjectOIL PRICING POLICY
dc.subjectOIL PRODUCERS
dc.subjectOIL PRODUCT PRICES
dc.subjectOIL PRODUCTS
dc.subjectOIL SECTOR
dc.subjectOIL USE
dc.subjectPER CAPITA INCOME
dc.subjectPETROLEUM
dc.subjectPETROLEUM FUELS
dc.subjectPETROLEUM GAS
dc.subjectPETROLEUM SECTOR
dc.subjectPIPELINE
dc.subjectPIPELINE TRANSPORT
dc.subjectPOWER
dc.subjectPOWER GENERATION
dc.subjectPRICE ADJUSTMENTS
dc.subjectPRICE CHANGES
dc.subjectPRICE COMPETITION
dc.subjectPRICE CONTROL
dc.subjectPRICE EFFECT
dc.subjectPRICE FREEZE
dc.subjectPRICE INCREASES
dc.subjectPRICE LEVELS
dc.subjectPRICE OF OIL
dc.subjectPRICE SUBSIDIES
dc.subjectPRICE VOLATILITY
dc.subjectPRICING POLICIES
dc.subjectPURCHASING
dc.subjectREFINED PRODUCTS
dc.subjectREFINERIES
dc.subjectREFINERY
dc.subjectREGULAR GASOLINE
dc.subjectRETAIL
dc.subjectRETAIL PRICE
dc.subjectRETAIL PRICES
dc.subjectSALE
dc.subjectSOURCE OF ENERGY
dc.subjectSPOT PRICES
dc.subjectSTORAGE FACILITIES
dc.subjectSUBSTITUTE
dc.subjectSULFUR
dc.subjectSULFUR CONTENT
dc.subjectSUPPLY CHAIN
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectSUSTAINABLE ENERGY
dc.subjectTRANSPORT COSTS
dc.subjectWORLD MARKET
dc.subjectWORLD OIL
dc.subjectWORLD OIL PRICES
dc.titleOil Price Risks and Pump Price Adjustmentsen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleOil Price Risks and Pump Price Adjustments
okr.date.disclosure2012-10-01
okr.date.doiregistration2025-04-10T09:19:08.094912Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/10/16831268/oil-price-risks-pump-price-adjustments
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeEnergy and Extractives
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeFinance and Markets
okr.globalpracticeEnergy and Extractives
okr.guid506721468333025693
okr.identifier.doi10.1596/1813-9450-6227
okr.identifier.externaldocumentum000158349_20121015132748
okr.identifier.internaldocumentum16831268
okr.identifier.reportWPS6227
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/10/15/000158349_20121015132748/Rendered/PDF/wps6227.pdfen
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicEnergy::Energy and Environment
okr.topicOil Refining and Gas Industry
okr.topicEnergy::Energy Production and Transportation
okr.topicEnvironment::Environment and Energy Efficiency
okr.topicIndustry
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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