. OECD countries
4. Eastern Europe
5. Middle East
6. Western Hemisphere
1. Tax Revenue from Domestic Consumption of Petroleum Products
2. Petroleum Products: Average Retail Prices Including Taxes, 1973, 1974, 1990, and 1991
3. Petroleum Products: Average Products: Average Prices Excluding Explicit Taxes, 1973, 1974, 1990, and 1991
4. Petroleum Products: Average Tax Rates, 1973, 1974, 1990, and 1991
1. OECD Countries: Leaded PremiumGasolinePrices, Excluding Explicit Taxes, 1991
had prices in 1991 that were higher than the average of all countries for almost all petroleum products. This picture changes somewhat when before-tax prices are examined; the OECD average of before-tax prices is below, and that of Africa is above, that of the all-country average. The variation in the average before-tax price is evident from the fact that premiumgasolineprice in 1991 was 27 to 29 cents a liter in the Middle East, OECD, and Western Hemisphere, and 42 cents a liter in Africa. The lowest before-tax gasoline prices were in Angola (3 cents a liter
The domestic taxation of petroleum products is an important source of revenue in most countries. However, there is a wide variation of tax rates on petroleum products across countries, which cannot be explained by economic theory alone. This paper surveys different considerations advanced for taxing petroleum and presents petroleum tax rate data in 120 countries. It concludes that a significant reduction in the present extremely wide variation in petroleum prices and tax rates appears warranted.
This Selected Issues paper on Haiti examines the observed reduction in outstanding real bank credit to the private sector. It examines the evolution of credit and real GDP growth and uses demand and supply indicators to characterize the reduction in credit allocation to the private sector. The paper also provides an overview of the taxation system for the major petroleum products under the present fixed pricing policy and a hypothetical implementation of the 1995 law introducing a flexible pricing mechanism.
in the context of premiumgasolineprices of just above US$500 per ton at then prevailing oil prices of US$45 to US$50 per barrel and exchange rate of 197 Naira/US$. Since then, the price of PMS has remained unchanged. Oil prices are now hovering above US$60–65 per barrel, Rotterdam Platts prices increased, and the exchange rate has further depreciated in windows reflective of market rates, while fuel imports are still priced at 305 Naira/US$. As a result, the regulatory fuel price cannot fully cover the cost of fuel importation and distribution. Oil companies in
component, ranging between 40-60 percent of the retail prices in 1991) were substantially higher than the world price, while retail prices in Nigeria were consistently below world market prices, implying a subsidy element throughout the period. Relative to the world market prices, premiumgasolineprice in Nigeria (at the parallel exchange rate) fell from about 80 percent of the world price in 1986 to below 20 percent in 1992-93. In comparison, gasoline prices in the neighboring countries were relatively stable but far above world market prices, ranging from 4 to 6 times
International Monetary Fund. Middle East and Central Asia Dept.
; premiumgasolineprices increased by 60 percent to about US$0.43 per liter. Price increases for LPG, diesel, and kerosene, electricity, and water to be phased in gradually by 2019.
To compensate for the cancelation of meat subsidies, the government started financial transfers to Bahraini households. Nationals will be exempted from higher water and electricity tariffs on their first house (account).
May 2015: Fuel prices increased by 40 percent for gasoline and 20 percent for diesel. In addition, gas prices for domestic and commercial use increased by
the variable component of fuel taxation (revenue replacement duty, RRD) falling from 4 percent of GDP in FY03/04 to a projected 3 percent of GDP in FY05/06.
PremiumGasoline, Prices and Imports 1 /
(In percent of retail price, unless otherwise stated)
Distribution and margins
Retail price (BZ$ per gallon)
Annual imports (in millions of gallons)
Regulating energy prices has been a common practice around the world. The objective is, generally, to facilitate access to energy products, which are central to people’s well-being and countries’ economic development. However, energy price regulation also leads to wasteful and excessive consumption, discourages investment in the energy sector, and locks in inefficient technologies. Low energy prices also result in subsidies that erode fiscal space, while benefits for the poor are limited. All these effects have been evident in Arab countries, where domestic energy prices are among the lowest in the world. The current environment of low oil prices offers a unique opportunity for change. Lessons from international experience suggest how well thought-out and sequenced reforms can be successful.
annual increases of $ 0.25 per mmbtu in the gas price for industrial users starting on April 1, 2015 until the price reaches $4.0 per mmbtu by April 1, 2021
Regular gasoline prices were increased by 56 percent to about US$0.33 per liter; premiumgasolineprices increased by 60 percent to about US$0.043 per liter.
Electricity tariff increases will be phased in through 2019, with prices increasing 95 percent over that time period.
Nationals will be exempted from higher water and