Double price cut coming for fuel: Signs to change for gasoline and diesel

In parallel with the decline in international oil prices, a significant reduction in gasoline and diesel prices is expected starting from midnight tonight.

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Double price cut coming for fuel: Signs to change for gasoline and diesel

Recent developments in global energy markets are positively reflecting on fuel prices in Turkey. According to information obtained from industry representatives, a decrease of 1.38 TL per liter for gasoline and 1.81 TL per liter for diesel is expected starting from midnight on June 1.

The easing of tensions between the US and Iran and the optimistic atmosphere regarding a potential agreement between the parties have suppressed supply concerns in the market. In particular, the resumption of oil tankers using the Strait of Hormuz after receiving transit permission from Iran has eased global oil supply. As a result of these developments, the price of Brent crude oil has fallen below 100 dollars. This loss of value in international markets has paved the way for a reduction in domestic fuel prices.

If the price cut is implemented, the price per liter of gasoline is estimated to drop to the following levels in major cities: 62.94 TL in Istanbul, 63.91 TL in Ankara, and 64.19 TL in Izmir.

The current fuel pump prices distributed by province are listed as follows:

Istanbul European Side