The Finance Ministry expects growth of gasoline prices in 2016 by 5% at an oil price of $30 per barrel

The Finance Ministry expects growth of gasoline prices in 2016 by 5% at an oil price of $30 per barrel


SHANGHAI, February 26. The Ministry of Finance expects growth in gasoline prices in 2016 at a level below inflation – 5% at an oil price of $30 per barrel, even considering the possible increase of excise duty on fuel to $ 2 per litre from April 2016. This was reported to journalists by the Deputy Minister of Finance Maxim Oreshkin.

“We have about such estimates on the growth in gasoline prices (5% – approx.ed.) under the scenario of $30 per barrel. This increase in gasoline prices for the year 2016 – 1 January to 1 January. That is, in this scenario, at $30 per barrel increase in petrol prices would be less than General inflation in the country,” he said.

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The budget Committee of the state Duma recommends to increase from April 1, the excise tax on gasoline and diesel fuel

The government of the Russian Federation 16 February introduced the state Duma a draft law to increase from 1 April 2016 the cost of the excise taxes on gasoline and diesel fuel.

According to the project document, the excise rate for gasoline increased by 2 rubles. per 1 liter of gasoline. The excise tax on motor gasoline of the 5th class, valid from 1 April to 31 December 2016, will be 10130 rubles. for 1 ton. The excise rate on diesel fuel is proposed to increase from 1 April to 1 RUB. per 1 liter of diesel fuel.

Earlier it was reported that the additional revenues of the consolidated budget of the Russian Federation of increase of excises on gasoline and diesel fuel may be in 2016 to 89.3 billion rubles.

This year, on the proposal of the Ministry of Finance the excise tax on fuel was increased, from 1 January the rate of gasoline Euro-5 increased by 36.1%, or 2 rubles., up to 7,53 rubles per liter, and on diesel fuel by 20.3%, to 4.15 rubles. per liter. Last time twice in one year, the excise tax was raised in 2013.

Assessment of Rosstat, in 2015, inflation in Russia amounted to 12.9%, gasoline prices rose 4.8%.