Russia may raise oil export duty on its Urals blend from the current $253.6 to $268.9 per metric ton from March 1, following trends on global oil markets, a Finance Ministry official said.

Alexander Sakovich, who is the head of the ministry's consolidated analysis department, said the average oil price was $75.52 per barrel from February 15 to March 14.

Export oil duty should therefore equal $268.9 per metric ton from April 1, with duty on light petroleum products rising to $193.5 per ton from the current $183.2 per ton, and duty on heavy petroleum products to $104.2 per metric ton from the current $98.7 per metric ton.

The government adjusts oil export duties on a monthly basis to reflect changes in world oil prices.

MOSCOW, March 15 (RIA Novosti)