49
86
142
0
20
40
60
80
100
120
140
160
180
200
220
US-¢
per litre
Red
Benchmark Line:
Price of Crude Oil
on World Market
= 49 US-Cents/Litre
(= US$ 78/Barrel)
Cat. 3
Cat. 4
giz.de/fuelprices
Data as of mid-November 2014
Grey
Benchmark Line:
Retail Price of
Gasoline in Poland
= 142 US-Cents/Litre
Gasoline
Note: At these levels, countries are
effectively using taxes to generate
revenues and to encourage energy
efficiency in the transport sector.
The retail price of Gasoline is at least as
high as the price level of Poland.
High Taxation
(142 and more US-Cents)
Country Category 4
**) Indonesia: Price refers to unsubsidised Premium (11 300 Rupiah).
Subsidised Gasoline is available at a price of 8 500 Rupiah (70 US-Cents/liter).
Green
Benchmark Line:
Retail Price of
Gasoline in the
United States
= 86 US-Cents/Litre
Note: In November 2014, Gasoline prices in
Poland were the lowest in EU-28. Prices in EU
countries are subject to VAT, specific fuel taxes
as well as other country specific duties and
taxes. The EU sets minimum taxation rates for
fossil fuels.
Retail price of Gasoline is at least as high as the
price of the United States and below the price
level of Poland.
Country Category 3
Taxation (86–141 US-Cents)
*) Iran: Price refers to unsubsidised, free-market regular Gasoline (10 000 IRR).
Subsidised Gasoline is available at a price of 7 000 IRR (26 US-Cents/liter).
Cat. 1 Cat. 2
The retail price of Gasoline is below the
price for crude oil on the world market.
Country Category 1
High Subsidies (up to 48 US-Cents)
Note: The fuel prices of the United States are
average cost-covering retail prices incl. industry
margin, VAT/sales tax and incl. appr. 10 US-Cents
for the 2 road funds (federal and state). This fuel
price may be considered as the international
minimum benchmark for a non-subsidised road
transport policy; though not yet covering external
costs for health and environmental damages.
The retail price of Gasoline is at least as high as the
price for crude oil on the world market and below
the price level of the United States.
Country Category 2
Subsidies (49–85 US-Cents)
1.5 Venezuela
Saudi Arabia 16
22
Kuwait
Turkmenistan 22 23 Qatar
Algeria 27
31 Oman
Iran 37*
41 Brunei Darussalam
Iraq 43
47 United Arab Emirates
Nigeria 56
60 Ecuador
Malaysia 68
70 Bolivia
Yemen 70
76 Angola
Kazakhstan 81
81 Russian Federation
Sudan 82
83 Syria
United States of America 86
88 Egypt
Chad 90
91 Liberia
Tunisia 91
93
Indonesia**
Korea, North (D.R.) 94 94 Kyrgyzstan
Pakistan 94
96 Lebanon
Panama 96
98 Taiwan (China)
Ethiopia 99
101 Guatemala
Mongolia 101
102 Gabon
Uzbekistan 102
103
Benin
Lesotho 103 103 Mexico
Bhutan 104
104
Sierra Leone
Vietnam 104
105 Bahamas
Philippines 105
106 Belarus
Botswana 106 106 Ghana
Afghanistan 107
108
Colombia
Namibia 108
109 Niger
India 110
112 El Salvador
Congo, R. (Brazzaville) 113
114 Jamaica
Myanmar (Burma) 114 114 Swaziland
Guyana 115
116 Haiti
Canada 117 117 China, P. R.
East Timor 117
117
Ukraine
Nicaragua 118
119 South Africa
Honduras 120
121 Azerbaijan
Kenya 121 121 Moldova
Australia 123
124 Cameroon
Georgia 124
125 Togo
Brazil 127 127 Jordan
Sri Lanka 127
129 Suriname
Tanzania 129 129 Thailand
Armenia 130 130 Bangladesh
St. Lucia 130
131 Nepal
Tajikistan 132
134 Cambodia
Fiji 134
135
Madagascar
Papua New Guinea 136
137 Belize
Gambia 137
138 Japan
Morocco 138
140 Burkina Faso
Cuba 140 140 Lao PDR
Uganda 140
141 Djibouti
Dominican Republic 141 141 Rwanda
Ivory Coast 142
142
Poland
Costa Rica 144 144 Marshall Islands
Guinea 145
146
Estonia
Peru 146
147 Mali
Latvia 148
149 Bulgaria
Macedonia 149
151
Andorra
Bosnia and Herzegovina 151
152 Argentina
Chile 152
152
Luxembourg
Burundi 153 153 Mauritania
Kosovo 154
155 Korea, South (R.)
Mozambique 155
155 Serbia
Cape Verde 156
156 Zimbabwe
Lithuania 157
158 Hungary
Singapore 158
159 Paraguay
Romania 159
160 Austria
Montenegro 160
161 Cyprus, South
Maldives 163
163 Spain
Mauritius 165
166 Croatia
Czech Republic 167
168 Congo, D.R. (Kinshasa)
Zambia 168
169 Central African Republic
Senegal 170
171 New Zealand
Liechtenstein 174
174 Switzerland
Albania 176
177 Palestine (West Bank and Gaza)
Slovakia 177
178 Malawi
Slovenia 178
179 France
Germany 180
180 Malta
Uruguay 180
181 Barbados
Sweden 182
185 Iceland
Israel 188
189 Finland
Portugal 189
190 Belgium
Ireland 192
192 United Kingdom
Niue 197
198 Greece
Sudan, South 198
200 Monaco
Denmark 201
206 China, Hong Kong
Turkey 206
214 Italy
Netherlands 215
227 Norway
Eritrea 333
Data Preview
International Fuel Prices 2014
Published by
Our 2014 survey at a glance
Super gasoline and diesel retail prices in 174 countries, conducted mid-November 2014
„„
World market
„„
US-¢
per litre
Country Category 4
Country Category 3
200
180
160
139 140
High Taxation
(139 and more US-Cents)
Country Category 2
Taxation (97–138 US-Cents)
The retail price of Diesel is at least as high as the
price level of Poland.
Subsidies (49–96 US-Cents)
Retail price of Diesel is at least as high as the
price of the United States and below the price
level of Poland.
Note: At these levels, countries are effectively using
taxes to generate revenues and to encourage
energy efficiency in the transport sector.
0.8 Venezuela
Saudi Arabia 7 16 Algeria
Iran 19*
19 Kuwait
Turkmenistan 20
25 Egypt
Ecuador 29
38 Oman
Qatar 41
47 Syria
Angola 51
54 Bolivia
Sudan 55
64 United Arab Emirates
Kazakhstan 64
65 Malaysia
Tunisia 68
70 Yemen
Lebanon 73
75 Russian Federation
Kyrgyzstan 76
77 Azerbaijan
Indonesia 80**
82 Philippines
Jordan 82
Bhutan 84 84 Nigeria
85 Panama
Ethiopia 89
90 Bangladesh
Congo, R. (Brazzaville) 90
90 Gabon
Guatemala 90
90 Sri Lanka
Thailand 90
91 India
Vietnam 91
93 Myanmar (Burma)
Haiti 94
94 Liberia
Mongolia 96
97 United States of America
Maldives 98
98 Taiwan (China)
Chad 99
101 Pakistan
Brazil 102
102 El Salvador
Mexico 102
103 Ghana
Honduras 103
103 Niger
Colombia 104
104 Nepal
Nicaragua 104
104 Sierra Leone
Belarus 106
106 Jamaica
Botswana 107
107 Kenya
Lesotho 107
108 Lao PDR
Chile 109
109 China, P. R.
Madagascar 109
110 Benin
Japan 110
111 Guyana
Morocco 111
111 New Zealand
Uganda 111
112 Namibia
Papua New Guinea 113
114 Cameroon
Armenia 116
116 Canada
Moldova 116
116 Paraguay
Singapore 116
116 Swaziland
Ukraine 116
117 Ivory Coast
Peru 117
117 South Africa
Fiji 118
118 Tajikistan
Afghanistan 119
120 Cuba
Mozambique 120
120 Tanzania
Costa Rica 121
121 Djibouti
Dominican Republic 121
124 Cambodia
Georgia 124
125 Burkina Faso
Macedonia 127
128 Australia
Gambia 129
129 Mali
Togo 129
131 Cape Verde
Argentina 133
134 Suriname
Andorra 135
135 Mauritania
Korea, South (R.) 137
138 Mauritius
Luxembourg 139
139 Poland
Rwanda 141
143 Burundi
Barbados 144
145 Guinea
Marshall Islands 147
148 Zimbabwe
Latvia 149
149 Montenegro
Lithuania 150
151 Bulgaria
Estonia 151
151 Senegal
Bosnia and Herzegovina 154
155 Austria
Kosovo 155
155 Spain
China, Hong Kong 156
158 Germany
Croatia 159
159 Zambia
Czech Republic 160
160 East Timor
Slovakia 161
163 France
Greece 163
163 Palestine (W. Bank + Gaza)
Portugal 164
165 Cyprus, South
Hungary 165
166 Central African Rep.
Serbia 166
167 Congo, D.R. (Kinshasa)
Slovenia 168
169 Belgium
Malta 170
171 Albania
Romania 171
172 Uruguay
Finland 178
178 Monaco
Liechtenstein 179
179 Switzerland
Denmark 180
180 Malawi
Netherlands 180
182 Sweden
Ireland 184
186 Iceland
Turkey 190
193 Uzbekistan
Sudan, South 198
199 United Kingdom
Italy 201
201 Niue
Israel 208
211 Norway
220
Eritrea 300
Crude oil price (Brent) on reference day: USD 78.20 per barrel (49 US cents per litre).
The oil price had decreased by 29 % (- 0.20 per litre) compared to November 2012.
USD–EUR exchange rate: USD 1 = EUR 0.80.
The retail price of Diesel is at least as high as the
price for crude oil on the world market and below
the price level of the United States.
Note: The fuel prices of the United States are
average cost-covering retail prices incl. industry
margin, VAT/sales tax and incl. appr. 10 US-Cents
for the 2 road funds (federal and state). This fuel
price may be considered as the international
minimum benchmark for a non-subsidised road
transport policy; though not yet covering external
costs for health and environmental damages.
Note: In November 2014, Diesel prices in Poland
were the lowest in EU-28. Prices in EU countries
are subject to VAT, specific fuel taxes as well as
other country specific duties and taxes. The EU
sets minimum taxation rates for fossil fuels.
Country Category 1
High Subsidies (up to 48 US-Cents)
The retail price of Diesel is below the
price for crude oil on the world market.
120
97 100
80
60
49
40
20
0
Grey
Benchmark Line:
Retail Price of Diesel
in Poland
= 139 US-Cents/Litre
Green
Benchmark Line:
Retail Price of Diesel
in the United States
= 97 US-Cents/Litre
Red
Benchmark Line:
Price of Crude Oil
on World Market
= 49 US-Cents/Litre
(= US$ 78/Barrel)
Diesel
Data as of mid-November 2014
giz.de/fuelprices
Cat. 1
Cat. 2
*) Iran: Price refers to unsubsidised Diesel (5 000 IRR). Subsidised
Diesel is available at a price of 2 500 IRR (9 US-Cents/liter).
Cat. 3
Cat. 4
**) Indonesia: Price refers to unsubsidised Diesel (9 700 Rupiah).
Subsidised Diesel is available at a price of 7 500 Rupiah (62 US-Cents).
Policy Recommendations
The pricing of transport fuels is a major concern in many
countries – often associated with high financial burdens,
social unrest and concerns over macroeconomic stability.
A sound fuel pricing policy would aim at mitigating these
effects. Further, it would help shift people and goods to
more sustainable modes, encourage dense and smart
2
cities, and foster more efficient vehicles. This would, inter
alia, result in less reliance on fossil energy resources,
improved air quality and reduced congestion. The following principles can guide the development of more sustainable fuel price policies:
1. Pricing Principles
Apply cost coverage. Fuel prices should cover the full
costs of production, import, transport and refining,
including depreciation and external costs of production
(e.g. environmental costs) in order to maintain a viable
up- and downstream industry.
Countries are increasingly employing this pricing principle,
to a bigger extent toward gasoline, less for diesel: margins,
levies and taxes represent a considerable share of the retail
price in most countries today. However, exchange rate fluctuations pose an increasing challenge to many countries.
Apply fuel taxes. Fuel taxes contribute to the development of the transport sector (e.g. for financing road
maintenance, public transport subsidies, technology
innovation programmes), and can also be applied to the
general state budget (e.g. for financing health services,
education and security).
Rule of thumb for financing road maintenance: prices
should include a minimum added tax of 10 US-cents per
litre. As fuel taxes are straightforward to collect, they are
a major source of revenue in many countries. Additionally,
fuel should be subject to full VAT as any other good.
Internalise external effects of the transport sector. Fuel
pricing should reflect the costs of external effects of the
transport sector (e.g. CO2 emissions, noise, accidents, congestion) by implementing measures such as an Eco-tax or
Road Safety Cent.
The inclusion of external costs increases fuel prices, which
generally shifts driving behaviour towards more sustainable
transport modes.
2. Price Regulation Principles
Reflect changes in costs and inflation. Fuel prices adjustments should reflect changes in cost of production/
import, transport and refinery, including depreciation
and external costs of production (e.g. environmental costs) and changes in exchange rates. Fuel pricing
schemes should also allow for adjustment to inflation.
Ad-hoc pricing schemes lack a proper legal framework,
information and monitoring, and are often associated
with fuel subsidies. The implementation of an automatic,
statutorily regulated pricing/adjustment mechanism that
fully reflects all costs is a useful tool to provide transparent and depoliticized fuel pricing. Automatic pricing can be
used as a transitory mean, e.g. on the way to deregulation.
Deregulated prices require a mature market with a sufficient number of players in the market, strong regulatory
oversight and alert media/civil society.
Limit budgetary consequences. Regular fuel price adjustments limit budgetary impacts.
Properly applied price adjustments or an automatic pricing
mechanism limits the impact of external price shocks. Additionally, in the case of subsidisation of selected products,
the provision of “smart cards” helps to better administer
and regulate individual fuel consumption, and thus, to
better manage the total amount of fuel subsidies.
3. Transparency Principles
Institutional stakeholders in price setting are known.
Information on institutional stakeholders involved in
determination of price levels and elaboration of price
adjustments should be made available.
Principles of price setting are transparent. Information on pricing determinants, update frequency and
the underlying formula (if automatic mechanisms are
applied) should be publicised.
Information on price composition is available. Information on taxation levels and composition of fuel prices
should be made available.
Information on prices and price setting is made easily
available to public. Comprehensive and easy-to-access
information should be displayed on the web, including: current price data for all fuel products; timelines
of prices; price components (production and/or import
prices, taxation levels, and other charges); description of
structure and modus operandi of pricing mechanisms (if
applied); and underlying legislation.
Since fuel prices and fuel subsidies rank high on political
agendas and are deeply embedded in the public interest,
increased transparency and the provision of information
in terms of price setting, composition, adjustment and
level of subsidisation not only contributes to the discussion, but also improves public awareness and understanding of this issue.
4. Enforcement Principles
Application and realisation of pricing policy must be
monitored, supervised and enforced. Regulated prices
or transparency regulations should be enforced; complementary measures should be taken to prevent black
markets, smuggling and adulteration (e.g. kerosene and
diesel).
Smuggling and adulteration is often present in countries
with drastic price differences between various products (e.g.
significantly different pricing of diesel and kerosene can
encourage adulteration).
3
More Information
International Fuel Prices: www.giz.de/fuelprices
„„
Sustainable Urban Transport including Sustainable Transport: Sourcebook for Policy-makers in Developing
„„
Cities: www.sutp.org
GIZ Transport and Mobility: www.giz.de/transport
„„
Transport and Climate Change: www.transport2020.org
„„
Find trainings, webinars and e-learning on sustainable urban transport worldwide here: www.capsut.org
„„
German Partnership for Sustainable Mobility: www.german-sustainable-mobility.de
„„
Our Resources
GIZ Fuel Price News
Monthly collection of global fuel price news
„„
Recommended reading on related publications
„„
Subscribe here: armin.wagner@giz.de
Factsheets
Compact information on two pages
„„
Available for more than 130 countries
„„
Price in USD and local currency (some since 1991)
„„
Price composition
„„
Pricing policy
„„
Transparency evaluation
„„
International Fuel Prices 2010/2011
Learn more here:
https://energypedia.info/index.php/International_Fuel_Prices
7th Edition
Report “International Fuel Prices”
Overview and data on retail prices of gasoline and diesel in
„„
more than 170 countries
Detailed information on price levels, pricing dimension, subsidies, taxation,
„„
regulation and transparency
Published every two years
„„
Published by
Download here: www.giz.de/fuelprices
Published by Deutsche Gesellschaft für
Internationale Zusammenarbeit (GIZ) GmbH
Dag-Hammarskjöld-Weg 1-5
65760 Eschborn, Germany
T +49 61 96 79-2650
F +49 61 96 79-80 2650
www.giz.de
4
Manager
Armin Wagner
As at
April 2015
Contact
Armin Wagner, armin.wagner@giz.de
On behalf of
Federal Ministry for Economic
Cooperation and Development (BMZ)
Disclaimer
Findings, interpretations, and conclusions expressed in this document are based on information gathered by GIZ and its consultants,
partners, and contributors from reliable sources. GIZ does not,
however, guarantee the accuracy or completeness of information in
this document, and cannot be held responsible for any errors, omissions, or losses which emerge from its use. This page contains links
to third-party web sites. The linked sites are not under the control of
GIZ and GIZ is not responsible for the contents of any linked site or
any link contained in a linked site.