Audit Chamber warns about sharp gasoline inflation risks in 2019

MOSCOW, Oct 15 (PRIME) -- A rise in excise duties on gasoline by 50% planned by the Russian government for 2019 may again result in a sharp rise in gasoline prices, the Audit Chamber said in its review of the 2019–2021 federal budget draft on Monday.

The excise duty on the tier 5 gasoline will rise to 12,314 rubles per tonne from 8,213 rubles per tonne, the authority said.

Fuel prices grew rapidly in Russia in April and May. The government had to cut the excise duties on gasoline and diesel fuel, and agreed with the largest oil companies to fix prices at the level as of May 30 while the government was working on measures to support the industry.

(65.9751 rubles – U.S. $1)

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