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The Ministry of Finance will lower the export duty on oil

The average cost of the Russian brand of export petroleum mixture Urals from April 15 to May 14 was $73.24 per barrel. A month earlier, from March 15 to April 14, Urals cost an average of $79.81 per barrel. From June 1, the Ministry of Finance will reduce the export duty on oil from $49.6 to $44.8 per ton, according to the agency’s website.

β€œThe average price for Urals oil for the monitoring period from April 15, 2022 to May 14, 2022 was $73.24 per barrel, or $534.6 per ton. According to the calculations of the Russian Ministry of Finance, the export duty on oil in the Russian Federation will decrease by $4.8 from June 1, 2022 and amount to $44.8 per ton,” the Ministry of Finance said in a statement.

From June, duties on light petroleum products and oils will also decrease to $13.4 per ton, on dark ones – to $44.8, on commercial gasoline – to $13.4, straight-run (naphtha) – to $24.6 per ton.

At the same time, the export duty on liquefied natural gas (LPG) will increase to $87.2 (from $29.9), on pure LPG fractions – to $78.4 (from $26.9). The duty on coke will decrease from $3.2 to $2.9 per ton.

Formerly “Expert” wrotethat the average cost of the Urals oil mixture in April was $70.52 per barrel, which is 20.8% less than in March and 12% more than in April last year. In January-April, the price of the main Russian export commodity was $84.68 per barrel, which is 29% more than in the same period last year ($60.47 per barrel).

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