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---- Eliminating consumer subsidies --- Consumer subsidies designed to guarantee affordability and protect households from the potentially large shocks of fuel price increases end up artificially red... ucing the price of energy and thus encouraging overconsumption. Simulation results from Del Granado et al. (2012) show that a $0.25 per liter increase in fuel prices causes a 4.5% decline in household real incomes in Asia and Pacific (Table 2.2.1). This impact is partly direct, forcing households to spend more on fuel, and partly indirect, as prices paid for goods and services swell with higher embedded energy costs. Most Asian countries provide some form of subsidy to offset harm to welfare, with subsidies varying widely from country to country (Figure 2.2.1).--- PRC = People’s Republic of China. Source: IEA 2012a.
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