Fuel price hikes on the way: Signs will change

The rates for the SCT (Special Consumption Tax) hike to be applied to fuel prices as of January 4 are becoming clear. The increases to be made to gasoline, diesel, and LPG prices based on the inflation rate have been determined. Tax Expert Ozan Bingöl explained the details of the hike.

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Fuel price hikes on the way: Signs will change

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In line with the decision taken last year, the SCT increases to be applied to fuel prices are adjusted automatically based on the inflation rate.

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Eyes have turned to the December inflation data to be announced on January 3 for the 2024 hike.

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The SCT increases added in January and July will continue to increase the financial burden on drivers.

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Although the 43.93 percent increase rate to be applied to taxes, fees, and penalties will be valid as of January 1, the date of January 4 will be awaited for fuel prices to change.

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WHEN WILL THE SCT HIKE FOR GASOLINE, DIESEL, AND LPG ARRIVE?

With the December inflation data to be announced by the Turkish Statistical Institute (TÜİK) on January 3, the annual inflation amount will be finalized. While the last month's data is expected to come in at 2 percent, Tax Expert Ozan Bingöl calculated how this increase will be reflected in fuel prices.