New Record-high Oil Export Duties Come into Effect

01.08.2008 (13:01)

The export duty on oil has been set at $495.9 per tonne effective as of August 1, 2008, reports RBC.

Monitoring data shows that the average price of oil stood at $123.36375 per barrel in May-June, and based on that figure the ceiling rate of duty amounts to $495.936 per tonne. The duty on light refined oil products will be $346.4 per tonne, and $186.6 per tonne on heavy oil products.

Earlier, the export duty on oil stood at $398.1 per tonne, while the duties on light and heavy refined oil products were $280.5 and $151.1 per tonne, respectively.

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