Export duty on oil nears $50 per ton in Russia

The duty on oil exports from Russia will increase by $5.8 from March 1 to $49.6 per ton, Report informs, citing Russia's Economic Development Ministry.

The average price for Urals oil from January 15 through February 14 was $57 per barrel or $416.1 per ton. A month earlier, the price of Urals was $51.7 per barrel.

On March 1, the duty on light oil products and oils will increase to $14.8 per ton from $13.1. Meanwhile, the duty on black crude will go up to $49.6 from $43.8.

Commercial gasoline export duty is raised to $14.8 from $13.1, while the duties on straight-run (naphtha) gasoline rise to $27.2 from $24 per ton.

The duty on liquefied gas (LPG) and pure LPG fractions (liquefied hydrocarbon gases) will be zero. The duty on coke will amount to $3.2 per ton.