Russia's State Duma adopts in first reading bill on amending fuel damper, raising excise taxes on petroleum products

MOSCOW. Oct 17 (Interfax) - Russia's State Duma has adopted in the first reading a bill amending the Tax Code, which stipulates that the rates for excise taxes on gasoline and diesel are calculated in the fuel damper at the 2024 level at 15,048 rubles per tonne of gasoline and at 10,425 rubles per tonne of diesel.

The government submitted bill No. 727330-8 to the State Duma on September 30 as part of the draft budget for 2025-2027.

The measure reduces payments to oil companies under the fuel damper.

Meantime, excise taxes are increasing approximately 1 ruble on petroleum products. Specifically, the excise tax on AI-95 gasoline should rise from 15,650 rubles per tonne to 17,088 rubles per tonne in 2025, from 16,276 rubles per tonne to 17,772 rubles per tonne in 2026, and set at 18,483 rubles per tonne for 2027.

The excise tax on diesel should increase from 10,842 rubles per tonne to 12,120 rubles per tonne in 2025, from 11,276 rubles per tonne to 12,605 rubles per tonne in 2026, and set at 13,109 rubles per tonne for 2027.

"All indexations of excise taxes on petroleum products envisage an effect on the price within 2.5%-3% as part of the bill. This is in line with the general rate of inflation, as set at around 4.5% for next year," Deputy Finance Minister Alexei Sazanov said during the discussion of the bill in the first reading in the State Duma, regarding the effect of the rise in excise taxes on petroleum products on inflation.