The application of the CPI-X rule to the regulation of petroleum and distillate prices in Australia

Houghton, Gavin. (1992). The application of the CPI-X rule to the regulation of petroleum and distillate prices in Australia Honours Thesis, School of Economics, The University of Queensland.

       
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Author Houghton, Gavin.
Thesis Title The application of the CPI-X rule to the regulation of petroleum and distillate prices in Australia
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1992
Thesis type Honours Thesis
Total pages 86
Language eng
Subjects 14 Economics
Formatted abstract
      ''To review of existing regulation of the private sector, and toe vetting of new regulatory proposals, is a fundamental component of any program of microeconomic reform”
[Industry Commission Annual report 1990]

The petroleum industry IS one of the most heavily regulated industries in Australia. It has been subject to more than double the number of Prices Surveillance Authority [PSA] enquiries than any other industry. Despite the large role the government plays in the petroleum industry, very little attention is payed to the process by which regulation is carried out. It is in the interests of all parties concerned that the regulations in place are optimal.

The following paper proposes that the method of regulating the petroleum industry be changed to reflect the current market conditions and industry structure. In particular the regulatory change recommended is the introduction of the CPI-X price cap, with a cost pass-through mechanism. The CPI-X price cap is a market based form of price regulation which is ideally suited to the regulation of the petrol and distillate product markets.

Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
 
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Created: Wed, 01 Dec 2010, 13:11:54 EST by Muhammad Noman Ali on behalf of The University of Queensland Library