SCT and Pump Prices Increased in Fuel!

While the special consumption tax rate (SCT) on fuel was rearranged, the time has come for the pump.

SCT and pump prices increased in fuel. The Presidential Decree on the subject was published in the Official Gazette and entered into force. Accordingly, due to the SCT increase on fuel, the time was made to be valid as of May 20. According to the President's Decree, the tax rate taken over the price of 95 octane unleaded gasoline will be 1,33 lira. However, the special consumption tax (SCT) of 98 octane unleaded gasoline will be 1,58 lira per liter. The excise tax to be collected over a liter of diesel was determined as 1,29 lira, while the special consumption tax for LPG, which is liquefied petroleum gas, was announced as 0,81 lira. The Energy Market Regulatory Authority (EMRA) recently initiated a ceiling price application in order to prevent the speculation of distribution companies on fuel prices. This application ended on May 17th. In the two-month period, it was decided that the state would receive 1 lira 66 kurus for each liter of gasoline and 1,33 lira excise tax for diesel. Therefore, with the end of the ceiling price application, the SCT rates received from fuel products were rearranged.

Fuel Prices Increased

The Energy Petrol Gas Supply Stations Employer Union, which announced the aforementioned developments on its Twitter account, reported that a raise was made in fuel, effective as of May 20, due to the increase in the SCT. According to EPGİS, a price increase of 0,55 lira per liter was made for gasoline, 0,67 for diesel and 0,35 TL for LPG, reflected in pump prices.