The volume of imports of petrol grew by 38.7 percent year-on-year in January-October 2017 to USD 210.5 million, according to information from the National Statistics Committee of Mongolia on Friday. Meanwhile, the import of diesel fuel increased by 90.7 percent compared to the same period in 2016, amounting to 347.9 million dollars.

Also, the import of kerosene for the first 10 months of this year grew by 24 percent, compared to the same period last year. As a result, the total amount of imported aviation fuel was 24,800 tons.

It should be noted here that the Mongolian Parliament has increased the excise tax on imported fuel since July of this year in line with the continuation of the implementation of IMF’s Expanded Fund Facility Programme for Mongolia.

According to the agreement reached with the IMF, the Parliament of Mongolia in October 2017 had to raise the excise tax on petrol, but the Ministry of Mining and Heavy Industry of Mongolia proposed to postpone the consideration of the above-mentioned issue for an indefinite period.

According to the National Statistics Committee, Mongolia imported about 94 percent of the fuel from the Russian Federation in 2016, in particular, from the Rosneft oil company.

In 2017, more than 96 percent of imported fuel was imported from Russia; the rest from China.