Automatic price increase in gasoline, diesel and alcohol prices on January 3

According to the data announced by the Turkish Statistical Institute (TUIK), considering the 12-month averages as of November, consumer prices increased by 53.40% and domestic producer prices increased by 53.15%.

Tax Expert Ozan Bingol said that even if the PPI was announced as zero in December, the fixed SCT amounts of fuel, alcohol and tobacco products would be increased by approximately 25% with the “most optimistic” estimate.

Bingol, in his article published on his website, stated that even if the monthly D-PPI rate for the December 2023 period is 0%, the SCT + VAT increase that will be reflected at the pump for one liter of gasoline will be ₺2 and 18 kurus. If PPI comes to 5%, the SCT+VAT tax increase that will be reflected at the pump will be ₺2 and 75 kurus.”

In his post on his social media account, Bingol said that the Special Consumption Tax amount for one liter of alcohol, which is ₺845.96, will increase to ₺1,057.45 on January 3.

Source: Patronlardunyasi / Prepared by Irem Yildiz

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