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Implementing Efficient Petroleum Product Pricing Programs in Developing Countries

Oil prices are regulated in virtually every developing country. Economists, oil businessmen, politicians, and bureaucrats usually have diverging views on the best price for petroleum products. Costs, government objectives, and political influences all affect energy price determination (see Figure 1). The outputs-sets of energy prices over time-influence the welfare of particular groups in society as well as, naturally, society as a whole. Some sets of prices may be more efficient than others, some may be regarded as more equitable.

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Energy Specializations: Energy Access – Sustainable Development and Distributed Energy; Petroleum – Markets and Prices for Crude Oil and Products; Energy Access – Energy Poverty and Equity

JEL Codes:
Q01 - Sustainable Development
L13 - Oligopoly and Other Imperfect Markets
Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

Keywords: Oil product pricing, Developing countries, Energy policy

DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No1-3

Published in Volume 8, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.