Fuel prices lowered upon EPDK request despite tax row

Fuel prices lowered upon EPDK request despite tax row

KAYSERİ - Anadolu Agency
Fuel companies cut the prices between 2 to 6 kuruş in response to a request by Turkey’s energy watchdog to adapt prices with international levels.

The Energy Market Regulatory Authority (EPDK) gave the companies Aug. 7 as a deadline and asked all fuel oil companies to slash their prices.

EPDK’s move was objected by the companies, who cited high taxes as an obstacle to lowering prices.

Turkish energy minister has said yesterday the ball is in the distributors’ court regarding a reduction of fuel prices, claiming the tax share within fuel prices has been lowered since the Justice and Development Party (AKP) came to power. “During our rule, the 75-percent tax share in fuel has been reduced to around 60 percent, with a fall of around 15 percent,” the Energy Minister Taner Yıldız said yesterday at a bayram greeting in Kayseri.

The executives, who met with the EPDK officials, stated that the vendors and distributors had only a share of 0.4 Turkish Liras (40 kuruş) on gas that cost 4.8 liras ($2.4) per liter. “Our margins are already limited. The real burden on fuel oil prices is taxes. It is not possible to make a discount on the share of the vendors-distributors,” they had said.