The Energy Market Regulatory Authority (EPDK) warned the companies to reduce the prices to a reasonable level after it was determined that the fuel price margins have recently exceeded what they should be, and stated that if the prices do not improve, a ceiling price decision may be taken.
In the statement made by EMRA on the subject, it was noted that fuel prices in Turkey are determined with a competitive approach in the free market environment.
In the statement, it was emphasized that prices are not determined by EMRA and that the institution does not interfere with discounts and increases. “However, price movements are followed meticulously by EMRA from moment to moment. EMRA has the option of intervening and imposing a ceiling price against price movements that victimize the consumer and disrupt the functioning of the market and the competitive environment. “In this context, EMRA decided to impose a ceiling price for 2 months three times in the past years, and the sale of fuel above the ceiling price determined for the whole country was prevented.” expressions were used.
In the statement, it was stated that EMRA has determined that some price movements in the fuel sector, especially in the recent months of the new type of coronavirus epidemic, have victimized the consumer and disrupted the competitive environment.
“This move is to dynamite the sector”
EMRA President Mustafa Yılmaz, whose views on the issue were included in the statement, stated that it was determined that the fuel price margins valid for all provinces had increased unreasonably compared to previous periods and said, “We have seen high increases in the margins of the European side of Istanbul. In other provinces, the margins have increased much more. This is also true.” “No distributor can explain it with an increase in costs or any other reason. This move directly victimizes the consumer and dynamites the industry.” made his assessment.
“A new balancing adjustment should not be a surprise”
Yılmaz stated that the margins of additive products have increased significantly compared to the margins of non-added products and said:
“Additive products have increased to unreasonable levels such as 5 cents per liter on the European side of Istanbul and 7 cents per liter in other provinces. No one should expect EMRA to remain silent about this increase occurring throughout the country. I say this very clearly. Fuel price margins are much higher than they should be.” Playing the game according to the rules should be the red line for all players in the fuel industry. Otherwise, it would not be a surprise to anyone that we would make a new balance adjustment in the sector. We will not hesitate to take the necessary steps once again, as we have done 3 times before. Either the companies will reduce the prices to a reasonable level or decide on a ceiling price “We will take it to a reasonable level.”
