In the Official Gazette No. 31428 dated March 18, 2021, the Decision No. 10081 on the regulation of fuel prices was published by the Energy Market Regulatory Authority.
EMRA, which initiated an investigation into fuel distribution companies applying an unfair price increase and secret price hike, held an extraordinary meeting on March 17, 2021 to take measures to protect the consumer and maintain competition. At the meeting, the decision to determine the fuel price in the petroleum market for a period of two months was taken in accordance with Article 10 of the Petroleum Market Law. In order to prevent unfair price increases, the "ceiling price" application, which will be calculated with the formula DCP (dealer ceiling price) = RF (refinery price) + lt (1 + VAT), has been started. It has been announced that with the determination of the ceiling price limit, companies will not be able to sell above this price and thus, discounts of 17-20 cents will be provided in prices. The annex of the decision includes a list of price differences that can be applied to dealer ceiling prices for gasoline and diesel types on a provincial basis. It was determined that the distribution companies could add a maximum of 2 kurus to the regulated price for differentiated fuel products. It was stated that the aforementioned Decree, which regulates the implementation of the ceiling price regulation for 2 months, will enter into force on March 18, 2021, the date of its publication.
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