Türkiye hands out $12.4 million in price gouging fines in 2025
External view from headquarters of Türkiye's Trade Ministry in Ankara, Türkiye. Jan. 8, 2025. (AA Photo)
The Ministry of Trade imposed nearly ₺455 million ($12.45 million) administrative fines during price gouging inspections in the first two months of 2025.
According to a statement from the Ministry of Trade, 85,238 individuals and companies were inspected in the first two months of the year. As part of these inspections, fines amounting to ₺454.35 million were imposed on 17,395 companies.
In February alone, 9,606 companies were penalized with ₺309.97 million in fines.
Inspections centered on price gouging across a variety of sectors including automotive, stockpiling, real estate, jewelry and supermarkets.
Turkish competition authority
The Competition Authority of Türkiye is responsible for the enforcement of the “Law on the Protection of Competition” (Law No. 4054), which was adopted in 1994. The main goal of the authority is to prevent anti-competitive agreements, decisions, and practices that can disrupt or restrict competition in the goods and services markets.
While carrying out its responsibilities, the Competition Authority operates independently within the Ministry of Trade. No office, authority, or individual is allowed to issue orders or directives to influence the authority’s final decisions.
Strong allegations and outcry of price gouging by Turkish citizens prompted major investigations by the Competition Authority in recent months.
