There is a common belief that fluctuations in gasoline and diesel retail prices are primarily driven by changes in oil prices (Bumpass, Ginn, and Tuttle 2015). While this is partly true, the fact is that gasoline and diesel prices are influenced by multiple components, which can reduce the impact of oil price changes depending on the country or region. For instance, taxes account for a significant portion of retail gasoline and diesel prices in many countries.

Senior Fellow- Oil & Gas
Julio is an economist and civil engineer with over 20 years of experience in the energy field. His experience includes…
Julio is an economist and civil engineer with over 20 years of experience in the energy field. His experience includes energy policy and data analysis for international organizations, governmental advisory services, and the construction of energy projects. Julio also has a passion for sustainable energy and project management, both supported by his postgraduate studies. Before joining KAPSARC, Julio worked as a senior energy consultant within different organizations. For over seven years, during his position as energy policy analyst at OPEC, he was one of the major contributors to the OPEC World Oil Outlook (WOO). His experience in both the governmental and private sectors, in the field and office, allows him to understand the dynamics of the energy sector.
Expertise
- Energy Market Analysis and Outlook
- Oil Market Forecast
- Energy Policies Impact
- Technology Developments and Alternative Energy Technologies
Publications See all Julio Arboleda’s publications

Advancing Plastic Waste Recycling in the GCC: Policies, Technologies, and Economic Opportunities
There is a common belief that fluctuations in gasoline and diesel retail prices are primarily…
21st April 2025
Breaking Down Gasoline and Diesel Prices: The Role of Taxes, Oil, and Other Components
There is a common belief that fluctuations in gasoline and diesel retail prices are primarily…
24th February 2025