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Belarus to reduce export duties on oil, oil products on 1 August

MINSK (BelTA) – Belarus will reduce export duties on oil and oil products, which are exported outside the customs territory of the Eurasian Economic Union (EEU), on 1 August 2016. The relevant decision is stipulated by the Council of Ministers' executive order No. 585 of 26 July 2016, the press service of the Belarusian government told BelTA.

The export duty on crude oil will fall from $95.9 to $90.1 per tonne. The duty on straight-run gasoline will be reduced from $68 to $63.9 per 1 tonne, the export duty on commercial gasoline will decrease from $58.4 to $54.9 per 1 tonne. The export duty on light and medium distillates will be $36 per 1 tonne, down from $38.3. The same rate will be applied to diesel fuel, benzene, toluene, xylene, lubricants, and other oils

The export duties on crude oil and some categories of derivative oil products were previously revised upwards on 1 July.