This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.

Rate Regulation of Certain Natural Gas Storage Facilities (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Rate Regulation of Certain Natural Gas Storage Facilities (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 The Federal Energy Regulatory Commission (Commission) is amending its regulations to establish criteria for obtaining market-based rates for storage services offered under part 284. First, the Commission is modifying its market-power analysis to better reflect the competitive alternatives to storage. Second, pursuant to the Energy Policy Act of 2005, the Commission is promulgating rules to implement new section 4(f) of the Natural Gas Act, to permit underground natural gas storage service providers that are unable to show that they lack market power to negotiate market-based rates in circumstances where market-based rates are in the public interest and necessary to encourage the construction of the storage capacity in the area needing storage services, and where customers are adequately protected. These revisions are intended to facilitate the development of new natural gas storage capacity while protecting customers. This book contains: - The complete text of the Rate Regulation of Certain Natural Gas Storage Facilities (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section