Petroleum Products Employers Association voiced its objection against EMRA's regulation decision on gasoline and diesel, with a written statement on Thursday.
'The decision is an intervention to the fuel market and it's unacceptable for the sector,' said Imran Okumus, head of the association.
Foreign investors will avoid investing to the fuel market after the decision, according to Okumus.
He also stated that the new decision will affect the domestic investors which may invest in more profitable sectors.
EMRA took a decision on Thursday to regulate gasoline and diesel pricing with the introduction of ceiling prices.
'The sector needs base price implementation instead of ceiling price, in order to keep the market stable,' said Okumus.
'Taxation policies of Turkey are the main reason of high fuel prices and taxes should be reduced instead of ceiling price implementation to protect the rights of consumers in the country.' he added.
According to the new decision gasoline and diesel sale prices will decline to between 0.9 to 0.10 liras per liter. The current price for gasoline is around 4.43 liras per liter while price for diesel oil is 3.87 liras per liter.
When the new regulation is published in the official gazette, the profit margin for gasoline will at present realize a maximum of 0.34 liras per liter while the profit margin of diesel oil will reach a maximum of 0.47 liras per liter.
By Ugur Serhan Ozcan
Anadolu Agency
ugur.ozcan@aa.com.tr