Russian oil export duty to rise to record $250.3 per ton on Oct 1

Analysis

The duty on Russian oil exports will rise by $26.4 to a record $250.3 per metric ton as of October 1, in line with world market trends, Russia's Finance Ministry said Monday.

This is a 12 % increase from the previous duty of $223.9 per ton as of August 1. Last year’s highest oil duty level was $237.6 per metric ton. Duty on the export of light petroleum products will total $181.0 per ton as of October 1 against the previous $163.2, while duty on heavy petroleum products will rise to $97.5 per ton from the previous $87.9. The Russian government adjusts export duty on crude and petroleum products every two months, depending on changes in world markets in the Urals blend price. (rian.ru)

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