Difference between revisions of "Fuel Prices Peru"

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{{Fuel Price Factsheet
 
{{Fuel Price Factsheet
 
|Fuel Price Country=Peru
 
|Fuel Price Country=Peru
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|Fuel Pricing Policies=Major fuel provider: petroperu: http://www.petrored.com.pe/pe_buscarEstaciones.aspx
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|Fuel Pricing Policies="Pricing policy: A 2004 law deregulated prices, but government in May 2004 set up a Petroleum Product Stabilization Fund for an initial period of 120 days when benchmark gasoline and diesel prices soared by about 35% and 50%, respectively, from their December 2003 levels. In the face of volatile and rising world oil prices, government has not been able to retire the fund to this day. Budgetary transfers to the fund between its inception and the end of 2011 totaled US$2.5 billion. The fund covers gasoline, diesel, LPG, and industrial oil for power generation. Government publishes reference fuel prices every week and adjusts them within a price band. If the import- or export-parity price (depending on the trade status of the fuel) at the refinery gate or some other equivalent point in the supply chain lies within a price band, there is no government intervention. If the import- or export-parity price lies outside the band, the difference is transferred to or withdrawn from the fund. The fund’s debt in 2008 reached 3,000 million S/ (US$1 billion), which was retired in 2009. After a large budgetary transfer to the fund, an emergency decree was issued in April 2010, requiring the regulatory agency to adjust price bands every two months. The decree stated that the band for price variation was to be 5% except LPG, for which the band was to be 1.5%.
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Consequences of price smoothing: Budgetary transfers to the fund since inception totaled US$2.5 billion by end-2011.
  
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'''Agencies:'''
 
  
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“Ministry of Mines and Energy (MME): The Ministry does not have a control mechanism for verifying the increases or decreases in fuel prices. INEI publishes monthly the average end price to the public for oil products
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Compensation: The Peruvian tax agency in August 2010 approved reductions of up to 30% in special selective consumption taxes on diesel for passenger transport for three years. Only transportation companies that operate with all documentation and up-to-date permits were eligible, a move that would also help companies facing unfair competition from illegal operators.
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National Institute of Statistics and Informatics (INEI): It publishes the variations in the average fuel price to the consumer in Metropolitan Lima. It also issues monthly reports for the domestic market on the structure of the full price for fuels.”
 
  
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Source and further information: http://uneprisoe.org/Pricing/FuelPricingPolicies.pdf
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Information: The Website of Osinergmin (Organismo Supervisor de la Inversión en Energía y Mineria, Supervisory Agency for Investment in Energy and Mining) posts detailed retail prices by location and company and the date of the last price change, but not historical price data.  
  
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"Prices were deregulated by a 2004 law but the Petroleum Product Stabilization Fund is used to smooth prices. The fund was established in May 2004 for an initial period of 120 days to tackle rising world oil prices at the time, and has continued to this day. The fund covers gasoline, diesel, LPG, and industrial oil for power generation. Government publishes reference fuel prices every week and adjusts prices within a price band, transferring money into or out of the stabilization fund. The fund’s debt in 2008 reached 3,000 million S/ (US$1 billion), which was retired in 2009. After a large budgetary transfer to the fund, another emergency decree was issued in April 2010, requiring the regulatory agency to adjust price bands every two months. The decree stated that the band for price variation was to be 5% except LPG, for which the band was to be 1.5%. " (Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
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(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
 
|Fuel Currency=PEN
 
|Fuel Currency=PEN
 
|Fuel Price Exchange Rate=2.76
 
|Fuel Price Exchange Rate=2.76
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|Fuel Transparency Price Composition=1
 
|Fuel Transparency Price Composition=1
 
|Fuel Transparency Pricing Mechanism=2
 
|Fuel Transparency Pricing Mechanism=2
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}}
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}} {{Fuel Price Factsheet Source
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{{Fuel Price Factsheet Source
 
 
|Fuel Price Factsheet Source Type=Pump prices and margins
 
|Fuel Price Factsheet Source Type=Pump prices and margins
 
|Fuel Price Factsheet Source Link=http://facilito.osinerg.gob.pe/facilito/pages/facilito/buscadorEESS.jsp
 
|Fuel Price Factsheet Source Link=http://facilito.osinerg.gob.pe/facilito/pages/facilito/buscadorEESS.jsp
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}}
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}} {{Fuel Price Factsheet Source
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{{Fuel Price Factsheet Source
 
 
|Fuel Price Factsheet Source Type=Pump prices and margins
 
|Fuel Price Factsheet Source Type=Pump prices and margins
 
|Fuel Price Factsheet Source Link=http://www.petrored.com.pe/pe_buscarEstaciones.aspx
 
|Fuel Price Factsheet Source Link=http://www.petrored.com.pe/pe_buscarEstaciones.aspx
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}}
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}} {{Fuel Price Factsheet Source
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{{Fuel Price Factsheet Source
 
 
|Fuel Price Factsheet Source Type=Other Information
 
|Fuel Price Factsheet Source Type=Other Information
 
|Fuel Price Factsheet Source Link=http://www.beip.gob.pe
 
|Fuel Price Factsheet Source Link=http://www.beip.gob.pe
 
|Fuel Price Factsheet Source Annotation=Central Reserve Bank of Peru
 
|Fuel Price Factsheet Source Annotation=Central Reserve Bank of Peru
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}}
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}} {{Fuel Price Factsheet Source
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{{Fuel Price Factsheet Source
 
 
|Fuel Price Factsheet Source Type=Other Information
 
|Fuel Price Factsheet Source Type=Other Information
 
|Fuel Price Factsheet Source Link=http://www.mem.gob.pe
 
|Fuel Price Factsheet Source Link=http://www.mem.gob.pe
 
|Fuel Price Factsheet Source Annotation=Ministry of Energy and Mines
 
|Fuel Price Factsheet Source Annotation=Ministry of Energy and Mines
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}}
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}} {{Fuel Price Factsheet Source
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{{Fuel Price Factsheet Source
 
 
|Fuel Price Factsheet Source Type=Other Information
 
|Fuel Price Factsheet Source Type=Other Information
 
|Fuel Price Factsheet Source Link=http://www.petroperu.com
 
|Fuel Price Factsheet Source Link=http://www.petroperu.com
 
|Fuel Price Factsheet Source Annotation=Petroleos del Peru
 
|Fuel Price Factsheet Source Annotation=Petroleos del Peru
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}}
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}} {{Fuel Price Factsheet Source}}
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[[Category:Peru]]

Latest revision as of 16:15, 15 July 2014

Part of: GIZ International Fuel Price database
Also see: Peru Energy Situation

Fuel Pricing Policies

Local Currency: PEN
Exchange Rate: 2.76


(2010/11/17)

Last Update:

"Pricing policy: A 2004 law deregulated prices, but government in May 2004 set up a Petroleum Product Stabilization Fund for an initial period of 120 days when benchmark gasoline and diesel prices soared by about 35% and 50%, respectively, from their December 2003 levels. In the face of volatile and rising world oil prices, government has not been able to retire the fund to this day. Budgetary transfers to the fund between its inception and the end of 2011 totaled US$2.5 billion. The fund covers gasoline, diesel, LPG, and industrial oil for power generation. Government publishes reference fuel prices every week and adjusts them within a price band. If the import- or export-parity price (depending on the trade status of the fuel) at the refinery gate or some other equivalent point in the supply chain lies within a price band, there is no government intervention. If the import- or export-parity price lies outside the band, the difference is transferred to or withdrawn from the fund. The fund’s debt in 2008 reached 3,000 million S/ (US$1 billion), which was retired in 2009. After a large budgetary transfer to the fund, an emergency decree was issued in April 2010, requiring the regulatory agency to adjust price bands every two months. The decree stated that the band for price variation was to be 5% except LPG, for which the band was to be 1.5%.

Consequences of price smoothing: Budgetary transfers to the fund since inception totaled US$2.5 billion by end-2011.


Compensation: The Peruvian tax agency in August 2010 approved reductions of up to 30% in special selective consumption taxes on diesel for passenger transport for three years. Only transportation companies that operate with all documentation and up-to-date permits were eligible, a move that would also help companies facing unfair competition from illegal operators.

Information: The Website of Osinergmin (Organismo Supervisor de la Inversión en Energía y Mineria, Supervisory Agency for Investment in Energy and Mining) posts detailed retail prices by location and company and the date of the last price change, but not historical price data.

(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)

Fuel Prices and Trends

Gasoline 95 Octane Diesel
in USD*

in Local Currency

* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil



NOTE: in TIMELINE 2010: value per gallon → litre conversion: 14.77/3.79=45

Fuel Price Composition

Price composition for one litre of Gasoline 95 Octane as of 2010/11/01.


GIZ IFP2012 Peru1.png
GIZ IFP2012 Peru2.png


Source: http://facilito.osinerg.gob.pe/facilito/actions/PreciosCombustibleAutomotorAction.do



At a Glance

Regulation-Price-Matrix
Transparency of
Price Composition 		Transparency of Pricing
Mechanism / Monitoring
IFPDB matrix background.png
IFPDB matrix point.png
 IFPDB trafficlight red.png IFPDB trafficlight explanation.png IFPDB trafficlight yellow.png



Sources to the Public

Type of Information Web-Link / Source
Other Information http://www.beip.gob.pe (Central Reserve Bank of Peru)
Other Information http://www.mem.gob.pe (Ministry of Energy and Mines)
Other Information http://www.petroperu.com (Petroleos del Peru)
Pump prices and margins http://facilito.osinerg.gob.pe/facilito/pages/facilito/buscadorEESS.jsp
Pump prices and margins http://www.petrored.com.pe/pe_buscarEstaciones.aspx


Contact

Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices

This is a living document. If you have any comments or suggestions, please feel free to contact us: Armin.Wagner@giz.de

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