content tagged with fuel oil

While the HDP has requested that the Value Added Tax and Special Consumption Tax levied on fuel oil such as gasoline and diesel be removed, the main opposition CHP has made the same request for the fuel oil used in public transportation.

It was announced on March 9 that the price of a liter of gasoline would increase by 0.79 lira and that of a liter of diesel by 2.25 lira a day later. These price increases have been withdrawn “as they have been canceled at their source”.

Following Russia’s invasion of Ukraine, the Brent crude prices have seen an 8-year high. The loss of value of the Turkish Lira has also played a role in the price increase.

The expected reductions in the fuel oil prices due to the falls in foreign exchange rates will not affect the money paid by citizens to buy fuel oil as this amount will be levied on them as the special consumption tax.