Gasoline prices continue steady rise in Turkey

The cost of fuel in Turkey continues to rise, with the announcement of an increase of TL 0.07 per liter in gasoline prices.

Gasoline prices continue steady rise in Turkey

World Bulletin / News Desk

The cost of fuel in Turkey continues to rise, with the announcement of an increase of TL 0.07 per liter in gasoline prices.

With this latest hike on Monday night, the price of a liter of 95 octane unleaded gasoline rose 1.85 percent to TL 3.91, while the price of a liter of 97 octane reached TL 3.98. With this increase the price of a liter of unleaded gasoline again neared TL 4.

The main reason for such high prices in Turkey is tax -- for every TL 100 worth of fuel consumers purchase, TL 65 goes to the state in taxes, such as the value added tax (KDV) and the private consumption tax (ÖTV).

In addition to regular taxes, the government added a tax of TL 0.20 per liter of fuel, called the “crisis tax,” to cope with the financial effects of the global financial crisis.

Turkish consumers' unions drew attention to this point, saying that since the crisis has ended, the crisis tax should be removed.

Moreover, on Dec. 24 diesel prices in Turkey swelled by an additional TL 0.07. According to the latest price increase last week, diesel prices in rural and regional areas around İstanbul increased from TL 3.10 to TL 3.16 per liter, while diesel prices in the city reached TL 3.30 per liter -- up from TL 3.25 per liter. The price of diesel increased to TL 3.15 and TL 3.29 in rural and urban areas of İzmir, respectively. It had previously retailed for TL 3.09 (rural) and TL 3.23 (urban) per liter.

Energy Minister Taner Yıldız met with Hasan Köktaş, president of the Energy Market Regulatory Agency (EPDK), and General Directorate of Petroleum Affairs (PİGM) General Manager Erdal Gülderen on Dec. 14 to talk about the successive price increases in the Turkish fuel market.

Yıldız said in a statement after the meeting that he awaited a gesture from refineries and fuel distributors. Even though refineries and fuel distributors said the high fuel prices are due to recent high taxes, they decided to lower fuel prices by TL 0.02 per liter after Yıldız's statement.

Last Mod: 29 Aralık 2010, 09:12
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