Increase in excise duties on July 1 will not influence gasoline prices as long as world prices for oil decline

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Increase in excise duties on July 1 will not influence gasoline prices as long as world prices for oil decline - Artemiev

MOSCOW. May 25 (Interfax) - A planned increase in excise duties effective July 1 will not influence gasoline prices if world quotations for oil continue to decline, the head of Russia's Federal Antimonopoly Service (FAS), Igor Artemiev, said during government hour at the State Duma on Friday.

"World prices have started to decrease. The introduction of excise duties in July, if this trend continues, should not be accompanied by a boost in prices," Artemiev said.

Artemiev added that the excise rates are taxes that can "be directly translated to the price."

He said that if world prices do not decrease further in future, it would be necessary then to "think about several additional measures."