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Tuesday, October 25, 2016

The Finance Ministry warns of gasoline in Russia may again increase

The Finance Ministry warned of a possible increase in prices of automotive fuel. Gasoline will rise in price if in 2017 will increase the excise tax, said Deputy Minister of Finance of the Russian Federation Ilya Trunin.

photo: Kirill Iskoldsky

“An additional increase (excise tax) plus a reduction in the export duty on oil is a serious risk of growth of prices”, — quotes Trunina RIA Novosti.

At this Deputy head of the Finance Ministry spoke out against “too strong” raising excise taxes, and also noted that the final decision is still pending.

According Trunina planned to get 150 billion rubles from the tax on mineral extraction (met) and 59 billion due to the fuel excise.

In 2017, the excise tax on gasoline and diesel fuel is planned to be reduced to 7.43 thousands of 5.09 thousand rubles per ton. The authorities, however, consider the possibility of more taxes from the oil industry.

The increase in excise duties and mineral extraction tax next year, recently announced by Deputy Prime Minister Arkady Dvorkovich. However, he expressed the hope that the excessive rise in gasoline prices will be avoided.

The last time the excise duty on fuel raised 1 APR: the rate for gasoline increased by 2 rubles per liter (10 to 130 rubles per 1 ton) diesel – 1 ruble (up to 5 293 rubles per ton).


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