Vetrova Konstantinovna

Excise tax rates on gasoline , diesel fuel and motor oils have increased by 4.9% as planned since January 1, 2024.

The relevant amendments were previously adopted to the Tax Code.

Increase in excise taxes: for Euro 5 gasoline increased to 15,048 thousand rubles / ton (previously from 4,345 thousand rubles/ton); for diesel fuel - to 10,425 thousand rubles/ton (from 9,938 thousand rubles/ton); in 2023, excise taxes on these goods increased by 4%.

Abstracts Head of the Economic Department of the Institute of Energy and Finance S. Kondratiev:the increase in excise taxes on fuel will not lead to a sharp increase in prices at gas stations ; do not expect a significant increase in prices, excise taxes on gasoline and diesel fuel will increase by 4.9% yoy.for example, for the Ai-92, the increase will amount to 0.9 rubles/liter and this increase will not translate into an increase in retail prices at the same time.

Deputy Director General of the Institute of National Energy A. Frolova: there will be no increase in fuel prices due to an increase in excise taxes, as quotes on the St. Petersburg International Mercantile Exchange (SPIMEX)are not expected at the moment, they are at a low level and there are no reasons for their growth; even with an increase in the tax component from January 1, 2024, and with it an increase in the cost of production, there are no market prerequisites for an increase in prices; the 1st quarter is a period of low demand for gasoline; if there is no growth in stock quotes, then there will be no prices

However, the situation with winter diesel fuel is completely different, it is expensive on the stock exchange. Experts noted that there is a potential increase in retail prices for diesel fuel. Recall that in July 2023 Vladimir Putin signed a law setting excise tax rates for 2024-2026.

Details of the law: introduces comprehensive amendments to the Tax Code in order to implement certain provisions of the main directions of tax policy; provides for the indexation of excise tax rates by 5% in 2024, by 4% in 2025 and by 4% in 2026.

Rates are indexed according to the expected inflation rates for these years.