"The export duty for oil as of April 1 could go down to $154.1-$155.8 per metric ton as of April 1 if the average oil price in the next five trading days [before March 1] is $52-$55 per barrel," said Alexander Sakovich, deputy head of the tax and customs policy department.
The current crude export duty set February 1 stands at $179.7 per metric ton, the official said.
The oil tax is adjusted every two months and is based on Russian Urals oil blend prices on world markets.
Sakovich said the government would also fix new duties on oil products. Tax on light products could be set at $116-$117 per metric ton as of April 1, and $63 per ton of dark oil products.
A decline in oil prices that began late last year and has continued into 2007 has prompted the government to adjust crude price and economic growth forecasts.
The Finance Ministry earlier said the oil price forecast for 2007 had been reduced from $61 to $55 per barrel, and the forecasts would also be reduced from $56 to $53 per barrel in 2008, and from $52 to $50 in 2009.
Economic growth, which has been driven by windfall oil revenues in recent years, is now expected at 6.05% in 2007, compared with an earlier projection of 6.2%.
The price for light, sweet crude fluctuated from a little below to above $60 per barrel in electronic trading on the New York Mercantile Exchange Thursday.
