KIEV, June 18 - A law introducing floating excise tax rates on petroleum products in Ukraine will come into force on June 19.

The text of the law was published in the government's Uryadovy Kuriyer newspaper on June 18.

According to the law, the current rates on excise taxes will be used as base rates until the end of 2012.

Every ten days, an adjustment amount that should not exceed 50% of the base rate will be added to or subtracted from the base rate (depending on the average cost of Brent crude (DTD) on the ICE for the previous ten days).