The institution of higher excise duties on fuels and lubricants will cause the cost of these petroleum products to rise by 0.4 to 0.6 percent, according to the Minister of Transportation of Russia Igor Levitin.

According to the Russian Ministry, about 10 to 15 percent of the cost of the petroleum products goes to the transportation projects fund.

The Ministry of Transportation suggested the possibility of repealing the current transportation tax and increasing excise duties on petroleum products. The excise tax will be around RUR 3 per 1 liter of gasoline.