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Lifted restrictions on fuel exports may somewhat improve retail trade turnover

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July 26, 2016 0:51

As of September 1st, 2016, Belarus will abolish restrictions on export of motor fuel from Belarus. Since November 2011, those who travelled by car outside the Customs Union more frequently than once in eight days, were required to pay duty on fuel in the car. Motor fuel makes about 5% of the total retail turnover. Retail price on motor fuel is unlikely to go up, while wholesale price is likely to increase. Motor fuel trade is likely to boost in the bordering regions with the Baltic States and Poland. Hence, Grodno and Brest oblasts are likely to report some increase in retail trade turnover and higher tax payments to the state budget. Fuel prices in Russia restrict fuel price growth in Belarus. If prices go up, de-centralised import of fuel by citizens in the bordering regions with Russia is likely to increase.

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