Reuters explained the growth of prices for gasoline in Russia with falling oil prices

Since July 2014, oil prices fell by 60%, and the most popular Russian gasoline AI-92 has risen in price by 11% — its average price at the pump is 34.4 rubles. for 1 liter, data from Thomson Reuters Kortes. In the US the cost of the fuel to changes in the oil market as a whole reacted — the price of a liter of gasoline in this country has decreased by 38%, notes Reuters.

According to Reuters, “anomaly” with the Russian gas prices due to the fact that the savings from cheaper oil eaten up by the increase in the tax burden. An additional factor Reuters calls the increase in domestic wholesale prices due to the reduction of export duties on oil products. The Agency has calculated that in 2015 the cost of a liter of AI-92 excise and VAT was 9.1 rubles, and this year, this component rose to 12.6 RUB.

Reuters survey, despite the decline in sales volume, revenues of the Russian budget will increase for the year due to the excise taxes on fuel by about 200 billion rubles is approximately 1.4% of the total budget revenues, the Agency said. In the end, the government can reduce the budget deficit without taking risky political steps in the form of higher direct taxes on consumers, concludes Reuters.

In 2015, the demand for gasoline in Russia has decreased, according to Vygon Consulting by 1.4%. It was the first time since the beginning of 2000-ies. This year gasoline consumption will fall by 3.7%, while next year — by 3.8%, writes Reuters.

The Agency reminds that in 2016 the excise tax on gasoline in Russia increased twice — in January and April. The largest Russian oil companies including Rosneft, LUKOIL and Surgutneftegaz, on the eve of the April increase excise taxes asked the President of Russia Vladimir Putin to postpone the payment of the excise tax on gasoline and diesel fuel from refineries to gas stations. The increase in excise tax may force the company to increase gasoline prices by about 2 rubles. per liter during the year, warned the first Vice-President of LUKOIL Vladimir Nekrasov.

For its part, the Federal Antimonopoly service are assured that the increase in excise duty will not cause an unreasonable rise in price of gasoline. A top Manager of LUKOIL, announced a possible increase in gasoline prices due to excise taxes, the antitrust agencies issued a warning.