As you pay more and more at the pump, Russia reportedly considers cutting its oil taxes

Source: Meduza

As oil prices soar, Russian officials have reportedly started discussing cuts to the excise taxes they imposed on gasoline and diesel fuel at the beginning of the year. According to the magazine RBC, the tax on a ton of gasoline could fall to 3,000 rubles ($49) and the tax on a ton of diesel could drop to 2,000 rubles ($32). According to the newspaper Vedomosti, the government could lose roughly 100 billion rubles ($1.6 billion), if it goes ahead with the tax cuts.

The new excise taxes introduced at the beginning of the year have led to higher gas prices across the country. In May, members of the Russian Fuel Union called the surge in costs “unprecedented” in an open letter to Prime Minister Dmitry Medvedev.

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As you pay more and more at the pump, Russia reportedly considers cutting its oil taxes

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As you pay more and more at the pump, Russia reportedly considers cutting its oil taxes

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