Turkish businesses propose cash-for-petrol price cuts

Turkish retailers of petrol should be allowed to charge two separate prices for fuel – one for cash, the other for payments via credit cards, a leading business group said.

The proposal for the two different tariffs is now being considered by the energy market regulator, said Imran Okumuş, head of the Petroleum Products Employers’ Union (PUIS), Dunya newspaper reported.

The union is also in talks with banks to erase a 3 percent charge on credit cards that fuel stations are required to pay, Okumuş said. The cost, already waivered by state-run Ziraat Bank, is hurting companies’ expansion plans because they are required to wait 40-45 days for banks to redeem credit card payments made by customers, he said.

Turkish sales of cars and fuel are falling amid an economic downturn that many economists expect to turn into a recession.