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Monthly energy price estimates by product and market 11 countries, 386 markets (2007+)

URL
https://microdata.worldbank.org/index.php/catalog/study/WLD_2023_RTEP_v01_M
Description

Real Time Prices (RTP) is a live dataset compiled and updated weekly by the World Bank Development Economics Data Group (DECDG) using a combination of direct price measurement and Machine Learning estimation of missing price data. The historical and current estimates are based on price information gathered from the World Food Program (WFP), UN-Food and Agricultural Organization (FAO), select National Statistical Offices, and are continually updated and revised as more price information becomes available. Real-time exchange rate data used in this process are from official and public sources.

RTP consists of three sub-series, Real Time Food Prices (RTFP) includes prices on a variety of food items that primarily include country-specific staple foods, Real Time Energy Prices (RTEP) includes fuel prices, and Real Time Exchange Rates (RTFX) and includes unofficial exchange rate estimates as well as possible other unofficial deflators.

To produce smooth price series, outliers in the data are often adjusted using non-parametric density estimation and other techniques. Generalized Auto-Regressive Conditional Heteroskedasticity models are used to estimate intra-month price ranges. These models allow for excess kurtosis using a Generalized Error Distribution (GED). Open, High, Low, and Close price estimates are provided based on the modeled time-varying price distributions.

Data are produced from 2007 to the present and estimates are given for individual commodity items at geo-referenced market locations. Predicted data for missing entries are based on exchange rates, and price data available either at other market locations or from related price items.

RTP estimates of historical and current prices may serve as proxies for sub-national price inflation series or substitute national-level Consumer Price Inflation (CPI) indicators when complete information is unavailable. Therefore, RTP data may differ from other sources with official data, including the World Bank’s International Comparison Program (ICP) or inflation series reported in the World Development Indicators.

The following datasets are part of this sub-series:

List of products included in estimates (not all products are included in country-level estimates): fuel diesel, fuel gas, fuel kerosene, fuel petrol gasoline, fuel petrol gasoline 95 octane

Sample
Format
Series - ongoing
Country
Afghanistan, Gambia, Iraq, Laos, Lebanon, Nigeria, Somalia, South Sudan, Syria, and Yemen
Title
Monthly energy price estimates by product and market 11 countries, 386 markets (2007+)
Format
Series - ongoing

Tools