The new regulation for the ceiling price of Turkish gasoline and diesel sales came into effect and was published in the country's official gazette on Friday.
Energy Market Regulatory Authority, EMRA, announced in a press release on Thursday that in order to regulate gasoline and diesel oil pricing, "ceiling prices" will be applied to protect consumers and to regulate the profit margins of fuel distributors and dealers in Turkey.
After the decision is published in the official gazette on Friday, 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.
The new decision for gasoline and diesel sale prices will decline by between 0.9 to 0.10 liras per liter. The current price for gasoline is around 4.43 liras per liter while the price for diesel oil is 3.87 liras per liter.
The ceiling prices of gasoline and diesel fuels will be monitored by EMRA over the next two months.
"With the help of the new ceiling prices of gasoline and diesel oil, 60 percent of the market's profits will be given to the distributors," EMRA stated.
By Gulsen Cagatay
Anadolu Agency
gulsen.cagatay@aa.com.tr