April 2021 – On 8 April 2021, Turkey’s energy regulatory authority, EMRA, announced the ceiling prices in Turkey applicable for fuel as of 9 April 2021 (“Decision”).
On 17 March 2021, EMRA implemented a ceiling-price scheme for gasoline and diesel oil for two months starting from 18 March 2021 (“Ceiling Decision”). With the Ceiling Decision, a different ceiling price for gasoline and diesel oil that would be applicable in each city was determined. The prices given in the Ceiling Decision are now updated by the Decision, and these updated prices are applicable as of 9 April 2021. The maximum and minimum per-litre price ceilings range from TL 7.07 to TL 7.43 (approximately EUR 0.77 to EUR 0.73) for gasoline, and from TL 6.43 to TL 6.79 (approximately EUR 0.66 to EUR 0.70) for diesel oil.
EMRA is authorised to determine fuel prices as per Article 10 of the Petroleum Law No. 5015 in the event that agreements and actions that are aimed at hindering, disrupting or restricting market activities or competition on the market, or that result in or may result in this effect, have disruptive effects on the market organisation. In a statement published together with the Ceiling Decision, EMRA explained that the Ceiling Decision was necessary to protect consumers and market competitiveness and that it expects a decrease of 17-20 kuruş in prices as a result of the Ceiling Decision. Nevertheless, the Ceiling Decision has attracted strong reactions from some market actors, and although some support the practice, others have expressed intentions to challenge the Ceiling Decision in court.
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