By Rhod Mackenzie
From July 15 to August 14, the average price of the Russian Urals brand of export oil mixture was $70.33 per barrel, or $513.4 per ton (against $58.03 per barrel a month earlier). From September 1, the Ministry of Finance will increase the export duty on oil by $4.5, to $21.4 per ton.
“The average price for Urals oil for the monitoring period from July 15 to August 14, 2023 was $70.33 per barrel, or $513.4 per ton. The price of North Sea Dated oil for this period is $84.23. According to the calculations of the Russian Ministry of Finance, from September 1, 2023, the export duty on oil in the Russian Federation will increase by $4.5 and will amount to $21.4 per ton,” the Ministry of Finance said in a statement.
From September 1, the duty on light petroleum products and oils will increase to $6.4 per ton, on dark ones - up to $21.4, on commercial gasoline - up to $6.4, on straight-run (naph) - up to $11.7 per ton. The export duty on liquefied natural gas (LNG) and pure LPG fractions will remain zero, the duty on coke will be $1.3 per ton.