Russian ministries to assess tax burden on oil cos due to rising excises on gasoline, diesel - source
MOSCOW. March 4 (Interfax) - Russia's energy and finance ministries will analyze the tax burden on oil companies in connection with the increase of excises on automobile gasoline and diesel fuel, a source familiar with the list of instructions issued after a meeting on the oil products market that Deputy Prime Minister Alexander Novak held on February 20 told Interfax.
In addition, the Energy Ministry, Transport Ministry and Federal Antimonopoly Service (FAS) are supposed to present agreed proposals to the government for prioritizing railway shipments of oil products to the domestic market by raising these products to the third priority group for railway shipments from the current sixth.
The Agriculture Ministry, Energy Ministry and FAS, together with regional government agencies, were instructed to analyse prices for oil products for farmers, particularly in regions of the North Caucasus and Southern federal districts. The agriculture and energy ministries are also supposed to approve recommended amounts of diesel and gasoline deliveries for agricultural work based on requests from regions and oil companies' proposals.
Novak also ordered the FAS and the Energy Ministry, together with regional authorities, to analyse retail fuel prices, particularly in regions where prices at the pump are rising, and present agreed proposals to lower them if necessary. Separately, the Energy Ministry, Finance Ministry and FAS were ordered to present proposals to lower retail oil product prices in the Far East Federal District and some regions of the Siberian Federal District.
The FAS and Energy Ministry are also supposed to explore the issue of changing a joint order on requirements for exchange sales of fuel that call for obligations to sell 1% of volumes for transactions made under deliverable futures contracts. It is proposed that these transactions be counted toward existing requirements for exchange sales.
The Energy Ministry and FAS, together with the St. Petersburg exchange and oil company Tatneft , were ordered to present proposals to adjust the parameters used to determine the minimum amounts of gasoline deliveries on "pick-up by automobile transport" terms. The FAS and the exchange, together with oil companies, are supposed to draft changes to a government resolution dated May 31, 2023 (No. 892) by April 15.
The government agencies, exchange and companies will have to report about the results of their execution of these instructions at the next government meeting.