Fuel Price Shock: 12 TL Hike Looms as Tax Deadline Nears
Part of composite article Global Fuel Crisis Hits Pumps From Warsaw to Jakarta as Oil Tops $100 View full article →
Turkey could see gasoline prices jump by 12.48 lira per liter if the government does not act before October 1.
The expected increase comes from a scheduled rise in the Special Consumption Tax (ÖTV) on gasoline. Without a new regulation by that date, the tax will rise by 10.40 lira per liter.
When combined with Value Added Tax (VAT), the total increase at the pump could reach 12.48 lira per liter.