The special consumption tax (STC) on fuel and alcoholic beverages has been increased by 25.6 percent.
The SCT rate was updated after the inflation numbers were released on Jan 3. The annual inflation rate accelerated from 61.98 percent in November to 64.8 percent in December. A legal regulation passed in July, stipulates that the SCT on fuel products should be updated every six months in line with producer price inflation.
The Revenue Administration said that the Turkish Statistical Institute (TÜİK) calculated the producer price inflation in the second half of 2023 at 25.6 percent.
The hike in the STC took effect as of Jan. 3.
The increase in the SCT is reflected in the prices of those products.
The gasoline pump price will be hiked by 2.31 Turkish Liras,while the increases for diesel fuel and LPG will be 2.17 liras and 1 lira, respectively.
The price of gasoline has increased to 36.79 liras per liter in Istanbul. After the STC hike, filling up a 50-liter gas tank will cost motorists 1,839 liras ($61.70) in Istanbul, 1,873 liras in the capital Ankara.
It will cost a car owner in İzmir, the country’s third largest city, 1,882 liras.
Source: hurriyetdailynews