The Ministry of Finance predicted an increase in the export duty on oil from November 1
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The average price for Russian Urals oil from September 15 to October 14 was $83.35 per barrel, or $608.4 per ton. reported Ministry of Finance. The price of North Sea Dated oil for the same period is $93.43. According to the ministry’s estimates, the export duty on oil in Russia will increase by $2.3 from November 1 and will amount to $26.2 per ton.
According to the Ministry of Finance’s calculations, the export duty on light petroleum products and oils will increase to $7.8 per ton, and on dark oils – $26.2. The export duty on commercial gasoline will reach $7.8, straight-run (naphtha) – $14.4 per ton. The duty on liquefied gas will be $2.2, on pure fractions of liquefied hydrocarbon gas – $1.9, on coke – $1.7 per ton. Currently, the export duty on oil is $23.9.
The flexible duty, introduced by the government from October 1 until the end of 2024, ranges from 4% to 7% depending on the exchange rate of the national currency. Now, according to Kommersant’s information, the government is considering the possibility of adding an export duty. It is proposed, in particular, to take into account world prices for taxable goods in its formula. Thus, if prices fall below a certain level, then the duty will not be applied, as well as if the ruble exchange rate depreciates.
Read more in the Kommersant article. “Exporters’ margin will be measured seven times”.
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