The price of 95-octane unleaded gasoline rose to 4.49 Turkish liras and the diesel price surged to 3.82 liras in June 2016 compared to the previous month, Turkish Energy watchdog announced Friday.
According to Energy Marketing Regulatory Authority's (EMRA) Oil and Liquefied Petroleum Gas Pricing Report, on the European side of Istanbul in June, the final price of 95-octane unleaded gasoline was 4.49 liras per liter compared to 4.47 liras in May. Out of this 4.49 liras, taxes made up 2.86 liras while distributor's margin received 0.46 liras.
Diesel was 3.82 liras per liter in June, while this was 3.73 liras in May, out of which the distributor's margin took 0.50 liras.
Liquefied petroleum gas (LPG) was sold at an average of 2.43 liras per liter, compared to 2.42 liras in May. The distributor's margin was 0.62 liras in June, as opposed to 2.42 liras the previous month. Taxes made up 51.8 percent of the final price, with the distributor's margin composing of 28.1 percent of that amount, EMRA indicated.
- Turkey's tax-free prices versus EU average
The report also showed that the average tax-fee price of 95-octane unleaded gasoline was 1.63 liras in Turkey while the European Union's (EU) average was 1.55 liras.
The average tax-free price of diesel was 1.64 liras in Turkey in comparison to 1.55 liras in the EU, the report stated.
The watchdog also compared tax rates of LPG in Turkey and EU countries and demonstrated that the highest tax rate on LPG was applied in Lithuania with 55.14 percent. This rate was 51.80 percent in Turkey.
Reporting by Muhsin Baris Tiryakioglu
Writing by Dilara Zengin