Export duty on Russian oil may fall from the current 270.7 a ton to $252.8 – 254.2 a ton from March 1st, 2010, Novosti RIA reports quoting the Ministry of Finance’s average figures and the Customs Tariffs export duty formula.
"The average reported price from 15 January to 10 February was at $72.46 per barrel. If the current price $69-$72 persists in the next 2 days of monitoring, the final price will be at $72.13-72.42 a barrel", Alexander Sakovich, the chief of the Russian Finance Ministry consolidated analysis department was quoted as saying. Average monitoring price from December 15, 2009 to January 14th of this year amounted to $ 75.91506 a barrel.
Therefore, based on the formula for calculating duty, the marginal rate of duty from March 1st, could be valued at $252.8-254.2 a ton of oil. In this case, the rate of duty on light oil products will be from March 1st , $182.7-183.5 a ton, on dark oil - $98.4-98.9 a ton. For February, they are at $194.7 and 104.9 a tone, respectively.
"The average reported price from 15 January to 10 February was at $72.46 per barrel. If the current price $69-$72 persists in the next 2 days of monitoring, the final price will be at $72.13-72.42 a barrel", Alexander Sakovich, the chief of the Russian Finance Ministry consolidated analysis department was quoted as saying. Average monitoring price from December 15, 2009 to January 14th of this year amounted to $ 75.91506 a barrel.
Therefore, based on the formula for calculating duty, the marginal rate of duty from March 1st, could be valued at $252.8-254.2 a ton of oil. In this case, the rate of duty on light oil products will be from March 1st , $182.7-183.5 a ton, on dark oil - $98.4-98.9 a ton. For February, they are at $194.7 and 104.9 a tone, respectively.