Prices and Taxes for Oil and Oil Products in the Context of Long-Term Development of Russia

Abstract

The article considers issues related to prices, taxes, and export duties for oil and oil products in Russia and foreign countries. The act adopted in August 2018 related to the gradual (within 6 years) cancellation of export duty on oil with the corresponding increase in severance tax (ST) is analyzed. This will lead to the growth of domestic prices for oil and oil products, as well as rise in inflation, and will have an adverse impact on economic growth rates (This will result simultaneously in the rise in prices for oil-importing EAEU countries. The rates of oil and diesel fuel price growth in Russia significantly exceed the inflation rate in 2018). The comparative analysis of the structure of prices for gasoline in Russia and the United States, as well as prices for oil and diesel fuel in countries throughout the world in 2018, are given.