Russian oil export duty to rise to $406.6 per tonne Dec 1
MOSCOW. Dec 1 (Interfax) - Russia's export duty on oil will increase to $406.6 per tonne from today's $393 on December 1, as per a resolution signed by Prime Minister Vladimir Putin on November 24 and published in Rossiyskaya Gazeta on Saturday.
The average monitored price from October 15 to November 14 was $111.1678 per barrel. The duty of $406.6 per tonne is calculated based on a coefficient of 0.60. If a calculation formula with a coefficient of 0.65 were retained, then the upper duty rate would be $438 per tonne as of December 1.
The preferential rate has been set at $200.9 per tonne. It has been $190.7 since November 1.
The duty on light and dark oil products, which since October 1 has been pegged at 66% of the duty on oil, will starting December 1 be $268.3 per tonne ($259.3 since November 1).
The export duty on gasoline, based on a coefficient of 0.90, will be $365.9 per tonne as of December 1 ($353.7 since November 1).
The duty on liquefied gas will be $221.8 per tonne next month.
The Russian government approved a new scheme for calculating export duties for oil products effective October 1. According to it, the upper coefficient used in calculating oil duties was lowered to from 65% to 60%. Per this scheme, the export duty on dark oil products was increased from 47% to 66% of the duty on oil. The diesel fuel duty remained at 66% of that on oil, but the duties on all kinds of gasoline are 90%.
