Fuel Subsidy


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Fuel Subsidy

A program in which a government or other organization pays for a portion of gasoline, heating oil, or some other fuel. Fuel subsidies tend to be politically popular, especially when the market price of fuel climbs. However, they have caused unsustainable financial problems in some countries in which they have been implemented.
References in periodicals archive ?
As a parliament, we must unravel the causes of this scarcity and the alleged re-introduction of fuel subsidy,'' Dogara said.
In December, Oman's government announced plans to introduce a new fuel subsidy scheme for low-income Omanis, starting from January.
Various attempts by previous governments to remove fuel subsidy had huge negative effects on the nations' economy.
The monthly revision in local fuel prices followed the government's decision on fuel subsidy reforms in Qatar.
ONGC was exempted by the government from payment of any fuel subsidy last year, leading to the profit boost.
According to a new fuel subsidy sharing formula approved previous year the upstream firms like ONGC and OIL have to make good any revenue loss incurred by fuel retailers on selling kerosene through PDS and domestic LPG after taking into account the fixed subsidy provided by the government.
All three leaders promise improved social spending and programs with the fuel subsidy reduction.
The Arab world has a high level of fuel subsidies, estimated at $250 billion a year, half the global fuel subsidy total.
Over the next four years the fuel subsidy will reach a staggering $28 billion--more than the government spends on public schools.
65 per litre by June 15 provides an opportunity to the new regime to reduce the annual Rs 140,000-crore fuel subsidy burden.
Although long a demand of international lenders, no Egyptian government has sought to aggressively tackle the bloated fuel subsidy programme for fear of igniting unrest.
Groser would also attend a meeting of ministers associated with the Friends of Fossil Fuel Subsidy Reform, a group of non-G20 countries, spearheaded by New Zealand, which support the reform of inefficient fossil fuel subsidies.