The average price of gasoline exceeded 42 rubles

25 May 2018

The price increase does not stop

Automotive fuel continues to rise, a record even for Russia pace. Just a month ago we mentioned that the average gasoline price exceeded 40 rubles, now Rosstat reported about the next race: the average retail gasoline price exceeded 42 rubles. These this was recorded on 21 may.

Not far behind, and diesel fuel, which costs on average even slightly more expensive — 43.1 ruble per liter. In just one week the cost of gasoline rose by 1.8 %, "diesel" 1.6 %. While the statistics registered a slight decrease in gasoline production: 1.2 %, to 657 600 tons. "Heavy" fuels produced 2% more than the previous week — 1 453 000 tonnes.

Another round of price increase comes amid news that for the first time since 2015, the government is going to reduce the excise tax on fuel. As stated earlier, Deputy Prime Minister and Minister of Finance Anton Siluanov, from July 1, the excise tax on gasoline and diesel fuel will be reduced by 3 000 and 2 000 per tonne respectively. Considering that earlier it was planned to increase tax rates, the total decline would be even more significant — 3 700 and 2 700 rubles.

However, the Finance Ministry has said that even with unprecedented for the Russian economy measures fuel will not be cheaper. In the best case, will only slightly slow the pace of appreciation. Behind the scenes of the St. Petersburg international economic forum this was stated by the Director of the Department of tax and customs policy of the Ministry of Finance Alexey Sazanov (his quote lead Agency "RIA Novosti").

According to calculations of the Federal Antimonopoly service (FAS) in the retail price of gasoline and diesel fuel, about 65 % is accounted for by various taxes and excise duties.