Energy Market Regulatory Authority (EMRA) President Mustafa Yilmaz said that they sent a letter to the refineries to reflect the price advantages regarding imported crude oil and processed products to consumers.
Energy Market Regulatory Authority (EMRA) Chairman Mustafa Yilmaz said, “We expect the refineries to take the necessary steps quickly and update the margin rate in line with the letter we sent. As a result of the update, there will be a discount of ₺1-₺1.5 on gasoline and diesel.”
In the written statement made by EMRA, it was pointed out that the developments experienced at the global level, especially in recent days, have an upward impact on the prices of not only Brent type oil but also processed products such as diesel and gasoline in international markets.
It was stated that fuel prices in Turkiye are determined under free market conditions and that developments in international markets directly affect price movements in the domestic market.
In the statement, it was stated that gasoline and diesel prices are determined not by the government but with a unique formulation under free market conditions, and reminded that EMRA has the authority to apply ceiling prices in case profit movements that disrupt the market structure are detected for any reason.
EMRA President Mustafa Yilmaz, whose evaluations were included in the statement, stated that they sent a letter to the refineries to reflect the price advantages regarding imported crude oil and processed products to consumers.
Emphasizing that gasoline and diesel prices are determined in the free market and the rules and formula are clear, Yilmaz said:
“As EMRA, we strictly follow the practices and price movements of market players such as refineries-distributors and dealers. The free structure of our fuel market is of course important, but it is also our duty to protect our consumers, follow price movements meticulously and not allow profit games. We expect the refineries to take the necessary steps quickly and update the margin rate in line with the letter we sent. As a result of the update, there will be a discount of ₺1-₺1.5 on gasoline and diesel.”
Source: AA / Prepared by Irem Yildiz