Kojima, Masami2016-01-122016-01-122016-01https://hdl.handle.net/10986/23631The steep decline in the world oil price in the last quarter of 2014 slashed fuel price subsidies. Several governments responded by announcing that they would remove subsidies for one or more fuels and move to market-based pricing with full cost recovery. Other governments took advantage of low world prices to increase taxes and other charges on fuels. However, the decision to move to cost recovery and market prices, ending budgetary support, has not been implemented consistently across countries. Policy announcements have varied in the way they were communicated and the level of detail provided. When petroleum product prices bounced back during the first half of 2015, some reforming governments failed to raise prices correspondingly. Recent experience suggests that regular and frequent price adjustments, however small—as in Jordan and Morocco—help the government and consumers to get accustomed to fluctuations in world fuel prices and exchange rates. By contrast, freezing prices, even for a few months—for socioeconomic considerations or because the needed adjustments are small enough to be absorbed—increases the risk of reversion to ad hoc pricing and price subsidies. The more formally the decision to move to market-based pricing is communicated, the more public new price announcements, and the higher the frequency of price changes, the more likely the implementation of the announced pricing policy reform will be sustained.en-USCC BY 3.0 IGOFUEL SHORTAGESPOT PRICEFUEL SPECIFICATIONSPOWER PLANTSREFINED PRODUCTSFOSSIL FUELSCARBON DIOXIDEDOMESTIC GASRESIDENTIAL CONSUMERSREFINERY OPERATIONSELECTRICITY TARIFFENERGY PRICINGHEAT METERSPOWER PRICESGENERATIONCOST OF ELECTRICITYGASOLINEGAS IMPORTSENERGY PRODUCTSETHANOLEFFICIENCY IMPROVEMENTPRICEVOLTAGEPOWER SYSTEMDOMESTIC NATURAL GAS PRODUCTIONPOWER GENERATION PLANTAVIATION FUELLNGOIL PRICESPETROLEUMAIR POLLUTIONOILBIOMASS RESOURCESKEROSENE SUBSIDIESGAS DEVELOPMENTOIL COMPANIESFUEL USEDOMESTIC SUPPLYELECTRIFICATIONPOWER GENERATORSDISTRIBUTION FACILITIESFUEL PRODUCTSALTERNATIVE FUELSOIL IMPORTSPOWER COMPANYFUELSFUEL SWITCHINGFUEL COSTSELECTRICITY PRODUCERSFUEL SUPPLYGAS COMPANIESCOAL MININGMINERAL RESOURCESGAS PROCESSING PLANTSBALANCEELECTRIC POWERELECTRICITYCEMENTPRICE OF OILHYDROPOWERFUEL BILLSEVAPORATIVE EMISSIONSELECTRICITY GENERATIONFOSSIL FUELOIL EXPORTSPOWER_SECTORPETROLEUM GASIMPORTS OF PETROLEUMFUEL PRICESVALUE OF ENERGYENERGY USENET OILSULFUR FUEL OILFOSSIL FUELSTARIFF LEVELSPETROLEUM SECTORFOSSIL FUEL CONSUMPTIONAUTOMOTIVE FUELSPETROLEUM DIESELENERGY OUTLOOKOIL REFINERYTAX REBATECOALDIESEL FUELFUELCRUDE OILFACILITIESHYDROPOWER GENERATIONSULFUR CONTENTGAS METERSPETROLEUM PRODUCTSOIL EXPORTERDIESELKEROSENEOIL COSTOIL INDUSTRYBACKUP POWERFOSSIL FUEL CONSUMPTIONPIPELINEAPPROACHEMPLOYMENTLIQUID FUELKILOWATT‐HOURPOWER SECTORSPUBLIC UTILITIESOIL PRICETAX EXEMPTIONCEMENT PRODUCTIONGAS TURBINESDISTRICT HEATINGVEHICLESACTIVITIESOIL COMPANYOIL OUTPUTWINDCLEAN ENERGYEMISSIONSGAS PRICESGAS PRICEDOMESTIC NATURAL GASLIQUID FUELSCARBON DIOXIDE EMISSIONSCOAL COMPANYGAS FIELDSOIL PRICE COLLAPSEGASWHOLESALE PRICEBARRELS PER DAYPOLLUTANT EMISSIONSDOMESTIC OILOIL CONSUMPTIONOIL PRODUCTIONGAS CONSUMPTIONSAFETY REGULATIONSTRANSPORTATION FUELDISTRICT‐HEATINGELECTRICITY CONSUMPTIONRESIDUAL FUELBIOMASSGENERATION CAPACITYOILSNATURAL GAS PRICESPOWER GENERATIONNATURAL GAS PRODUCTIONPRICES OF FUELSPOWER SECTORGAS PRODUCTIONOPTIONSWATERSOLID FUELSELECTRICITY SUPPLYPOLLUTIONGROSS DOMESTIC PRODUCTFUEL CONSUMPTIONGAS‐CONSUMPTIONGASOLINE PRICESREGULAR GASOLINESULFURPOWER PRODUCERSGASOLINE PRICEPETROLEUM PRICEBORDER TRADEENERGY CONSUMPTIONPOWER GENERATION CAPACITYTAX RATEHEATFUEL TYPESWHOLESALE PRICESCOST OF GASUTILITIESHEAT METERINGPOWERGAS SUPPLYGAS SUPPLIESHEAVY FUEL OILELECTRICITY TARIFFSCOAL‐MININGOIL PRODUCERSENERGY BILLSDOMESTIC CRUDE OILUTILITY BILLSRESIDUAL FUEL OILENERGY PRICESHYDROCARBONSTURBINESTAX REVENUEENERGY EFFICIENCYELECTRICITY PRICESDIESEL FUEL PRICESCRUDE OIL PRICENATURAL GASTAX CREDITSHEAT TARIFFGAS INDUSTRYPRICE OF GASFEEDSTOCKOIL EXPORTERSINVESTMENTTRANSPORTATION FUELSTARIFFFUEL OILAVAILABILITYRURAL ELECTRIFICATIONINVESTMENTSETHANOL IN GASOLINECYCLE POWER GENERATION PLANTHEAVY RELIANCERENEWABLE ENERGYNATURAL GAS CONSUMPTIONPRICE OF GASOLINEFOSSILGRID ELECTRICITYPRICESGAS EXPLORATIONENERGYWorking PaperWorld Bank10.1596/1813-9450-7531