GOVERNMENT LOWERS EXCISE DUTY, BUT FUEL PRICES RISE

Concerned at reports that petroleum prices are increasing in the international market, the Government last week accepted suggestions from the Ministry of Mineral Resources and Energy and the Ministry of Finance to reduce excise and customs tax on certain petroleum products.
Excise duties on diesel have been totally withdrawn and on A-80 reduced for imports through certainly border points.
Retail outlets, however, raised fuel prices by between MNT30 and MNT80 a liter over the weekend. Deputy Head of the Petroleum and Gas Association, L.Norovrenchin, told media the Russian company Rosneft has reduced supply to Mongolia by 20%, pleading a domestic deficit, and could cut even more.
Source: Ardiin Erkh
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