Difference between revisions of "Fuel Prices Togo"

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{{Fuel Price Factsheet
 
{{Fuel Price Factsheet
 
|Fuel Price Country=Togo
 
|Fuel Price Country=Togo
 +
|Fuel Pricing Policies=The Ministry of Commerce („Ministre du Commerce et de la Promotion du Secteur privé“) is in charge of setting fuel prices.
 +
 +
"A 2002 decree established an automatic pricing mechanism, requiring adjustments when benchmark prices varied by ±5%. In the face of soaring world oil prices in 2007–08, government did not adjust prices in line with world prices, and a government audit found that the net shortfalls borne by oil companies had grown to 1.5% of GDP. When world prices fell in 2008 and 2009, government maintained price levels in the hope of making up for the accumulated shortfall. The principle of automatic price adjustments was reaffirmed in a decree issued in Nov 2010, but government did not start adjusting retail prices until Jun 2011 and fuel subsidies soared between Jan and May 2011. Taxes on petroleum products were waived in mid-2011. Prices have been frozen since." (Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
 
|Fuel Currency=FCFA
 
|Fuel Currency=FCFA
 
|Fuel Price Exchange Rate=472.9
 
|Fuel Price Exchange Rate=472.9
 
|Fuel Price Exchange Rate Date=2010/11/17
 
|Fuel Price Exchange Rate Date=2010/11/17
|Fuel Price Last Updated=
 
|Fuel Price Composition Date=
 
 
|Fuel Price Composition Annotation=No information available.
 
|Fuel Price Composition Annotation=No information available.
|Fuel Pricing Policies=The Ministry of Commerce („Ministre du Commerce et de la Promotion du Secteur privé“) is in charge of setting fuel prices.
+
|Fuel Matrix Pricing Mechanism=2
 
 
No official information regarding fuel pricing in Togo could be found.
 
 
 
An internet article (see →Annex A1) states, that the government used money reserves in early 2011 to reduce the pump price for fuels. According to that article, there is an automatic pricing mechanism installed in Togo, which was „designed in consulataion with all social partners“ (presumable international organizations as IMF).
 
 
|Fuel Matrix Price Level=3
 
|Fuel Matrix Price Level=3
|Fuel Matrix Pricing Mechanism=2
 
 
|Fuel Transparency Price Composition=1
 
|Fuel Transparency Price Composition=1
 
|Fuel Transparency Pricing Mechanism=1
 
|Fuel Transparency Pricing Mechanism=1
 
}}
 
}}

Revision as of 15:01, 13 February 2013

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

Fuel Pricing Policies

Local Currency: FCFA
Exchange Rate: 472.9


(2010/11/17)

Last Update:

The Ministry of Commerce („Ministre du Commerce et de la Promotion du Secteur privé“) is in charge of setting fuel prices.

"A 2002 decree established an automatic pricing mechanism, requiring adjustments when benchmark prices varied by ±5%. In the face of soaring world oil prices in 2007–08, government did not adjust prices in line with world prices, and a government audit found that the net shortfalls borne by oil companies had grown to 1.5% of GDP. When world prices fell in 2008 and 2009, government maintained price levels in the hope of making up for the accumulated shortfall. The principle of automatic price adjustments was reaffirmed in a decree issued in Nov 2010, but government did not start adjusting retail prices until Jun 2011 and fuel subsidies soared between Jan and May 2011. Taxes on petroleum products were waived in mid-2011. Prices have been frozen since." (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



Fuel Price Composition

Price composition.



No information available.



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 red.png



Sources to the Public

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