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Rising oil prices hit a pocket Russian drivers

July 19 2005

Regular prices for gasoline expects Russian drivers. The fact that over a few days ago, Prime Minister Mikhail Fradkov signed a decree to increase from August 1, oil export duty to USD 140 per tonne. Oilers, who now have to pay on each ton of $ 4 more, will compensate for additional revenues by increasing prices for Russian gas stations.

Export duty on crude oil officials reviewed every two months. Its index is a formula that is calculated on the basis of a two-month monitoring of prices for Russian Urals crude on world markets.

A decision on the previous increase in taxes was taken this spring. From June 1, it has grown to a level of 136.2 dollars per ton. In 2004, the fee also increased several times, and significantly: in the spring of last year it was about $ 40. But the rise in the price of Russian crude on world markets has prompted officials to increase fees from companies selling oil abroad. The same is due to recent increase in export duty: Urals are now estimated to be expensive ever in the world market - more than 54 dollars per barrel, said the publication "Gazeta".

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