Russia's Finance Ministry Tuesday proposed to lower the excise tax on domestic gasoline standards Euro-4 and Euro-5 in order to stimulate the consumption of higher-quality fuels, the Vedomosti daily said Wednesday, citing a ministry official.
Excise tax on Euro-4 and Euro-5 will be set at 3,170 rubles ($133.5) a metric ton in 2009 and 2010 and RUB3,500 per ton in 2011 down from RUB3,629 per ton this year. At the same time, the excise on Euro-3 and lower-quality standards is set to rise to RUB3,900 per ton in 2010 and RUB4,200 per ton in 2011 up from the current RUB3,629 per ton.
The proposals drafted by the Finance Ministry have yet to be adopted by the Russian government.