Turkey’s most recent hike on gas taxes will bring in an extra five billion Turkish Liras of annual income.
The special consumption tax on gas was raised to 2,52 TL per litre, and 2,05 per litre for diesel fuel Feb. 29.
The tax hikes are at 0,18 TL/litre at the pump with all other taxes included.
A month ago, the special consumption taxes on gas and diesel fuel were increased by 0,11 TL/litre.
From an annual average of 31,000,000,000 litres of fuel sold in Turkey, 28 billion is diesel fuel.
The most recent increase in the tax is projected to increase total tax revenue from 88,000,000,000 TL to 93,000,000,000 TL.