Turkey21 Feb 2022 07:00
The fuel company has exhausted the capital, nearly 1000 dealers cannot buy goods.
PÜIS President Imran Okumus stated that the gasoline and diesel price hikes have melted the working capital of the fuel stations, and that approximately 1000 dealers could not get fuel.
Ankara Chamber of Commerce (ATO) Chairman of the Board Gürsel Baran, in his assessment at the Fuel Industry Consultation Meeting, stated that after the negative effects of the pandemic process, the fuel sector experienced troubled days due to the increasing costs, especially transportation, and high commissions paid to credit cards, and said that a solution to the problems of the sector. He said he was calling.
THE SECTOR HAS BEEN UNABLE TO MEET ITS EXPENSES
Baran stated that there are approximately 14 thousand fuel dealers in Turkey and that these enterprises serve as an important source of employment, and said, “After the problems experienced in the supply of raw materials, the fuel sector faced an increase in transportation and employment costs and other expenses in parallel with the increase in energy prices. The decrease in the number of vehicles on the road due to price increases also reduced the business volume of fuel dealers. When the high commission rates paid to credit cards are added to all these problems, the industry has become unable to meet its expenses, let alone making a profit.”
1000 DEALERS CANNOT GET FUEL DUE TO HIGH CHARGES
On the other hand, the President of Petroleum Products Employers' Union (PÜIS) Imran Okumus also made statements regarding the same problem. According to the news of Hüseyin Gökçe from DÜNYA Newspaper, Okumus stated that despite the increase in fuel prices due to the increase in the exchange rate, the profit margin of the dealers remained stable in TL, and that the dealers started to actually lose money with the increase in the minimum wage as well as the increase in electricity prices.
Okumus stated that this is why the need for capital has increased, and that at this point, 1000 dealers could not provide collateral for the fuel to be sold. Stating that they are working closely with EMRA to solve the problems, Okumus said that if this situation continues, he will have to lock the doors of more than 4 thousand dealers until the end of May.
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