Oil prices decline after ceasefire... This time, a price cut is coming for diesel and gasoline
Following the ceasefire reached between the US, Israel, and Iran, oil prices have dropped sharply. According to industry sources, a reduction of over 10 liras is expected for gasoline and diesel, with the decline projected to be more pronounced in diesel.
12punto
The rapid drop in oil prices following developments in global markets has brought the expectation of a significant reduction in fuel prices to the agenda. According to information obtained from industry sources, it is stated that a reduction of over 10 liras could occur for gasoline and diesel in line with the data that will emerge during the day.
ROSE WITH WAR, DECLINED WITH CEASEFIRE
Oil prices had risen rapidly during the tension process that began between the US, Israel, and Iran on February 28, 2026. The barrel price of Brent crude, which Turkey follows closely, rose from 75 dollars to 115 dollars, reflecting as a price hike on fuel.
Following the temporary ceasefire announced yesterday, the direction in the markets changed. With the expectation that shipments in the Strait of Hormuz will accelerate again, oil prices fell by over 10 percent. This decline strengthened the expectation of a reduction in fuel prices.
SHIPMENTS FROM THE STRAIT OF HORMUZ HAVE BEGUN
According to the news on NTV, the Malaysian energy company Petronas announced that a tanker carrying Iraqi crude oil had passed through the Strait of Hormuz and was heading towards the refinery in Johor. The tanker in question was recorded as one of the seven Malaysian tankers that received passage permission.
WAR-ERA INCREASE IN PRICES
On February 28, when the war began, the price of a liter of gasoline in Istanbul was 58.34 liras, the price of a liter of diesel was 60.39 liras, and the price of a liter of LPG was 30.29 liras.
As of April 8, prices had risen significantly. Accordingly, in Istanbul, gasoline rose to 63.25 liras, diesel to 85.29 liras, and LPG to 34.99 liras.
During this period, there was an increase of 8.41 percent in gasoline, 41 percent in diesel, and 15.5 percent in LPG. The highest increase was seen in the diesel group.
THE REDUCTION IN DIESEL WILL BE STRONGER
The sliding scale system (eşel mobil) had been put into effect to limit the reflection of the increase in fuel prices to the consumer. Within the scope of this system, a portion of the price increases was covered through the Special Consumption Tax (ÖTV).
It is stated that because the sliding scale application continues for gasoline, the entire expected reduction may not be reflected at the pump. It is expressed that a portion of the reduction may remain on the tax side.
In diesel, however, it is projected that the price drop will be reflected more strongly at the pump because the ÖTV limit had already been reached previously.
Industry representatives state that the exact amount of the reduction will become clear with the market data during the day and the opening of the Italian market. Initial calculations point to the possibility of a drop of over 10 liras in both gasoline and diesel.
CURRENT PRICES IN MAJOR CITIES
As of April 8, fuel prices are at different levels in the three major cities.
On the European side of Istanbul, the price of a liter of gasoline was measured at 63.25 liras, the price of a liter of diesel at 85.29 liras, and the price of a liter of LPG at 34.99 liras.
On the Anatolian side of Istanbul, gasoline is offered for sale at 63.10 liras, diesel at 85.14 liras, and LPG at 34.39 liras.
In Ankara, the price of gasoline is at the level of 64.22 liras, diesel at 86.42 liras, and LPG at 34.87 liras.
In İzmir, gasoline was recorded at 64.50 liras, diesel at 86.70 liras, and LPG at 34.79 liras.