Turkey and the European Union’s Fuel Prices and Taxes

Turkey and the European Union’s Fuel Prices and Taxes Turkey’s economic development within the basic entries is among the energy sources of oil which is expected to continue the importance of maintaining the position today and in the future. Oil and products meet 30% of the need for energy of the country which are used from production to consumption. We import almost 100% of the consumption and the domestic oil prices has been affected in the same way leading to movements in world oil prices, according to the fall of world oil prices in 2010, comparison to 2009, the pump prices was not fallen by the same amount in Turkey as a controversy. The pump prices of oil products are mostly consisted of taxes, oil and oil product prices are affected as well as the exchange rates in the world prices and refinery output prices of fuel products, Special consumption tax (PCT) and obtained through value added tax (VAT). In this study; fuel pump sales prices in our country, analysis of PCT and VAT and our country’s tax revenues from fuel taxes is compared and searched with the EU countries. The fuel prices in Turkey are quite high compared to in EU countries.