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Price Controlled Petroleum and LPG Prices and COVID-19 - Some Evidence From Fiji

Author

Listed:
  • Joel Abraham
  • Akeneta Vonoyauyau
  • Seema Wati Narayan

    (Fijian Competition and Consumer Commission, Fiji)

Abstract

This note examines the effects of the COVID-19 pandemic on price-controlled petroleum and LPG prices in Fiji. We develop autoregressive models of price control orders authorised by the Fijian Competition and Consumer Commission and find that the controlled prices of imported fossil fuels in Fiji did increase during the COVID-19 because of supply chain issues during the pandemic. Moreover, the effect of the pandemic on LPG prices was greater than those on petrol prices. These effects of the COVID-19 pandemic are found to be insignificant, which implies that consumers of imported fossil fuel were shielded by the price control policy and in the case of transport fuel, reduced demand for transport fuel due to the economic lockdowns also provided some relief in the domestic market.

Suggested Citation

  • Joel Abraham & Akeneta Vonoyauyau & Seema Wati Narayan, 2024. "Price Controlled Petroleum and LPG Prices and COVID-19 - Some Evidence From Fiji," Energy RESEARCH LETTERS, Asia-Pacific Applied Economics Association, vol. 4(4), pages 1-4.
    • Handle: RePEc:ayb:jrnerl:93
    DOI: 2024/07/09
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    More about this item

    Keywords

    Fossil fuels; Petroleum products; LPG; Price controls; COVID-19;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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