21 of May. Gasoline prices in Russia may soon increase dramatically. New price increase may happen due to the initiative of the Ministry of energy. The Agency proposes to reduce customs duties and excise taxes on gasoline, which will reduce the negative consequences of tax reforms for the oil industry. The proposal was sent to Arkady Dvorkovich (Deputy Prime Minister for fuel and energy complex).
Alexander Novak (energy Minister) said that due to recent changes in tax laws, volume of primary oil refining can be reduced by approximately 35 million tons of gasoline will start to produce less on 1-4 million tons, which may cause local shortages of petroleum products, especially gasoline.
By 2018, the duty on petrol plan to equalize with rates for diesel fuel. From the current level of 90% from the duty on oil by 2016 it is planned to export gasoline at the rate of 85% of the oil duties, 2017 – 75%.
The Ministry also took the initiative reduced rates of excise duties on gasoline and diesel fuel to minimize the effects of rising prices on the domestic market from declining absolute rates of export customs duties.
