Turkey Weighs Return of Fuel Tax Buffer as Oil Jumps on Iran War

Turkey is assessing whether to revive a fuel tax mechanism aimed at cushioning consumers from rising oil prices as war in Iran drives up crude, according to people familiar with the matter.

The Treasury and Finance Ministry is assessing potential revenue losses and the budget impact of reviving the so-called escalator system, the people said, speaking on condition of anonymity as deliberations continue. A decision is expected later this week, they said.

The ministry declined to comment.

Global benchmark Brent rose above $80 a barrel after spiking about 7% on Monday. The gains followed strikes by the US and Israel ...