The Government has been taking response measures for preventing negative impacts of rising USD rate against the national currency. The cabinet resolved at the regular meeting of October 5 to reduce excise taxes per ton of petrol and diesel fuels by MNT 240 thousand respectively.

In accordance with the decision, MNT 260 thousand of excise tax was imposed on a ton of petrol and MNT 280 thousand- on diesel fuel.
Although the border price of oil has decreased by USD 30-33, the rising USD rate against MNT is causing the huge losses to fuel importing companies and the rise in the domestic fuel prices.
At the regular meeting on November 30, the cabinet adopted a resolution on re-cutting the excise taxes per ton of fuel by MNT 100,000.
The amounts of excise taxes for petrol and diesel fuels went down to MNT 160,000 and MNT 180,000 respectively.

Published Date:2016-12-02