25 since 2008. The government added that gasoline subsidies would be tackled next but options were still being evaluated ( _Energy Biz_ 2015).

- China in October 2015 stated that by 2017 oil, gas, and electricity prices would be largely deregulated in the segments of the supply chain where competition is possible, and the government would fully implement market‐driven pricing with economic regulation for natural monopolies and anti‐trust elsewhere by 2020.

- Gabon announced in January 2015 that it was ending subsidies for gasoline and diesel, subject to socioeconomic considerations, while continuing to subsidize kerosene and LPG.

- Ghana lowered petroleum product prices in January 2015, raised them in May and June, and then announced in June 2015 that fuel prices (except for premix and residual fuel oil) would be deregulated no later than August.

- India ended the diesel price subsidy in October 2014 and moved to market‐based pricing of LPG in the first half of 2015, replacing the price subsidy for 14.2‐kg cylinders for household use with cash transfers to the bank accounts of registered LPG consumers.

- Indonesia issued regulations in December 2014 to end gasoline price subsidies and limit the diesel price subsidy to a maximum of Rp 1,000 (US$0.08) per liter effective January 2015.

- Kazakhstan in September 2015 deregulated the prices of 92 RON and 93 RON gasoline, while continuing to set price ceilings for 80 RON gasoline and diesel.

- Malaysia in December 2014 abolished price subsidies for 95 RON gasoline (the subsidy for 97 RON gasoline had been abolished in 2010) and diesel, moving them to a managed float mechanism whereby costs from the previous month are used to set the fuel prices every month.

- Mexico in its historic hydrocarbons law of August 2014 committed to basing gasoline and diesel pricing on market principles starting on January 1, 2018. Citing the continuing low oil price, the finance ministry proposed in September 2015 that the date be moved forward to 2016.

- Morocco in December 2014 announced that it was ending price subsidies (except for LPG) and would be adjusting prices twice a month from January to November 2015, after which prices would be deregulated.

- Oman announced in December 2014 that it would move to market‐based pricing of gasoline and diesel in mid‐January 2016 as part of the government’s fiscal reforms (Reuters 2015c).

- Saudi Arabia in December 2015 announced price increases for gasoline (67‐percent for 91 RON and 50‐percent increases 95 RON gasoline), electricity, and water, and the plan to set up an executive committee to launch a national program to review and rationalize energy and water prices ( _Saudi Gazette_ 2015).

- The Minister of Petroleum Resources Development in Sri Lanka in December 2015 confirmed to the parliament that a new pricing formula would be introduced in the first quarter of 2016, intended to achieve cost recovery.

- Tunisia in December 2015 announced that it would start applying a new automatic pricing mechanism in January 2016, with the first fuel price adjustments to be applied in July 2016.

- The United Arab Emirates announced in July 2015 that it would move to monthly adjustment of gasoline and diesel prices and eliminate their subsidies starting in August. New prices would be determined by a fuel price committee based on international prices and announced on the 28<sup>th</sup> of every month for the following month.