ISTANBUL
There are no further expectations for a new ceiling price restriction on gasoline and diesel prices, the head of the EMRA energy watchdog claimed on Thursday.
Speaking to Anadolu Agency during the 21st International Energy and Environment Fair and Conference in Istanbul, Mustafa Yilmaz, president of Energy Market Regulatory Authority – EMRA – said that the body would intervene in the sector if necessary.
After two months' of ceiling prices in gasoline and diesel, the restriction expired on April 21. Yilmaz said that he hoped there would not be a repeat of the restriction.
However, he stayed firm on the view that if anyone should try to manipulate others for “undeserved success,” EMRA would use its authority accordingly.
"Our interference with the sector is very restricted," Yilmaz said of accusations that EMRA intervenes in the industry more than necessary.
In the past weeks, news of various companies’ exit from the fuel retailing business in Turkey were released to which Yilmaz replied: "No application from any energy majors to exit from Turkey's fuel market has yet been received by EMRA."
He said that he believes no company will leave the sector but, if desired, any firm could enter or leave at will.
BP has denied rumors of an exit, Yilmaz claimed.
The sector hasn't received any exit requests but has received a number of entrance applications from major companies in the past couple of months, he added.
