Turkey's Energy Market Regulatory Authority, EMRA, implemented a price ceiling on the country's gasoline prices on Monday.
The price of 95-octane unleaded gasoline may reach maximum to 4,45 liras per liter in İstanbul, 4,48 liras in the Turkish capital Ankara and 4,47 liras in İzmir, by an average of 0,12 liras per liter as of Tuesday, according to a statement by EMRA.
EMRA, Turkey's energy watchdog, took a decision in late February to regulate gasoline and diesel pricing with the introduction of ceiling prices. The decision gives the watchdog authority to implement price ceiling when profit margins exceed the margins.
By Muhsin Baris Tiryakioglu
Anadolu Agency
muhsin.tiryakioglu@aa.com.tr