Russia to Up Oil Export Duty by $8.9/ton on June 1

From June 1, 2014, Russia's petroleum export duty will probably be heightened by US$8.9 from May's $376.1/ton to $385/ton.

According to Russian financial experts, between April 15 and May 14, the observed average price was $785.6/ton. Regarding the oil from east Siberia and Caspian fields, their preferential export duty will be raised to $189.2/ton from June 1; regarding super-viscous oil, their export duty will be raised to $38.5/ton from June 1.

From June 1, for the diesel with a calculated coefficient of 0.65, its export duty will be $250.2/ton; for the gasoline with the 0.9 coefficient, its export duty will be $346.6/ton; for other oil products with the 0.66 coefficient, their export duty will be $254.1/ton.

Regarding liquefied petroleum gas, its export duty will be $86/ton from June 1.