Gas prices in Russia: what did the FAS do
In Russia, with its endless roads and millions of cars and motorists, gasoline is a strategic important product. No less important is its cost.
In an interview with Russian journalists, the head of the fuel and energy complex’s regulation department, Dmitry Makhonin, said that the Federal Antimonopoly Service of Russia (FAS), guided by the need to maintain existing retail prices for fuel, proposed to maintain the current excise tax on gasoline and diesel fuel for the next year, 2019.
According to the official, the FAS prepared a proposal and sent it to the government of the Russian Federation. However, at what time the government will consider this document is currently unknown.
Recall that earlier the Accounts Chamber, in its opinion on the draft budget for 2019-2021, came to the conclusion that an increase in the excise tax by one and a half times from January 1, 2019 will provoke a sharp increase in prices for gasoline and diesel fuel. In turn, this will entail the need to take measures that would restrain and compensate for this growth.
The fact that government agencies are familiar with the problem and are intensively looking for ways to solve it, inspires optimism and hope for a correct decision by the Russian government regarding the introduction of an excise tax on gasoline and diesel fuel.
In an interview with Russian journalists, the head of the fuel and energy complex’s regulation department, Dmitry Makhonin, said that the Federal Antimonopoly Service of Russia (FAS), guided by the need to maintain existing retail prices for fuel, proposed to maintain the current excise tax on gasoline and diesel fuel for the next year, 2019.
According to the official, the FAS prepared a proposal and sent it to the government of the Russian Federation. However, at what time the government will consider this document is currently unknown.
Recall that earlier the Accounts Chamber, in its opinion on the draft budget for 2019-2021, came to the conclusion that an increase in the excise tax by one and a half times from January 1, 2019 will provoke a sharp increase in prices for gasoline and diesel fuel. In turn, this will entail the need to take measures that would restrain and compensate for this growth.
The fact that government agencies are familiar with the problem and are intensively looking for ways to solve it, inspires optimism and hope for a correct decision by the Russian government regarding the introduction of an excise tax on gasoline and diesel fuel.
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