Excise taxes on gasoline and diesel fuel increased

Russian Automotive Market Research

On April 1 excise taxes on gasoline and diesel fuel increased in Russia. So, the excise rate for gasoline will grow by 2 rubles per liter (to 10 130 rubles per ton), for diesel fuel — by 1 ruble per liter (to 5 293 rubles per ton). According to the Ministry of Finance, as a result of increase in excise rates retail prices for gasoline may rise by 6.5–7%. Additional revenues from increase in excise taxes on fuel are expected to amount to 89.3 billion rubles in 2016.
This is the second increase in excise taxes on fuel in 2016: on January 1 the rate for Euro-5 gasoline grew by 36.1% or 2 rubles to 7.53 rubles per liter, and for diesel fuel — by 20.3% to 4.15 rubles per liter.