Back-to-back price cuts for diesel: But it won't fully reflect at the pump

Expectations for back-to-back price cuts for diesel have emerged. According to industry calculations, a new reduction of 3.97 TL for diesel has come onto the agenda starting from midnight tonight. However, the reduction is not expected to be fully reflected in pump prices.

Fuel industry representatives, in a statement to ANKA, indicated that under the sliding-scale (eşel mobil) system, the entire amount or a significant portion of it could be deducted from the Special Consumption Tax (ÖTV). For this reason, it is highly likely that prices on the signs will either remain unchanged or see only a very limited decrease.

The first reduction for diesel was reflected in pump prices today. While a 6.37 TL reduction was previously expected, the deduction amount, including the ÖTV and 20 percent VAT due to the sliding-scale application, was 5.32 TL. Thus, only a 1.05 TL reduction was reflected in pump sales prices.

GLOBAL PRICES ARE DECLINING

The decline in Brent crude oil and the metric ton price of diesel in global markets has strengthened expectations for new fuel price cuts. The ongoing diplomatic efforts to reduce tensions between the US and Iran, and the increased possibility of an agreement regarding the Strait of Hormuz, are cited as factors influencing the decline in prices.

Industry sources stated that gasoline prices are also experiencing a decline linked to global markets, noting that a price cut for gasoline could also be implemented within a few days.

News Source: 12punto