Business/Economics, International

Oil & Gas Prices: Russian Gasoline exports making big money, Russia imposes big fuel tax! How would you like to pay as little as $2.00 per gallon?

For the first time Russian export gasoline (petrol) sales are making more money that domestic sales.

Last week Russian export premium gasoline hit $1,050 per ton.  Domestically sold premium gas was at $970 per ton.  Russian fuel exports have also increased in volume.

Most of Russia’s exported refined fuels go to Commonwealth of Independent
States (CIS) members, but export customers also include Virgin Islands and Netherlands.

Interestingly, the surge in fuel exports comes even after Russia imposed a 90% customs tax!  Analysts say even with such an outrageous tax, Russian fuel exports are still profitable because of how high the price of oil is.

According to Russian media, the price of premium gasoline, in the CIS countries, varies from $4.00 per gallon in some parts of Russia, to as little as $2.00 per gallon in parts of Kazakhstan!  ($1.00 per liter in Russia, 50 cents per liter in Kazakhstan)

Written by: Hutchins AAron on March 20, 2012.