Oil export duties are reviewed every other month. The rate depends on the results of world price monitoring in the two preceding months. The current rate, established April 1 on the basis of the January and February prices, is $102.6 per ton.
The new tariff will be based on the prices registered in March and April. In the period between March 1 to April 29, the average oil price on the world market has been 47.58 dollars per barrel. In case of price fluctuations on the final day, the rate will be adjusted within the $135.9-$136.1 range.
The export duty on the refined products converted from light fractions, such as gasoline, is to be brought up to 104 dollars per ton while that on the end products of residues (including bithumen, coke, and heavy fuel oils) is to be set at $56. The current rates are $81.4 and $43.8, respectively.
The new duty rates will come into force one month after the publication of the related governmental decree.
Earlier this year, the government modified its method of calculating export duties on refined oil products. The old scheme had the duty on crude as the basis.
