Brent crude remains stagnant, diesel hits record highs: Does the 'Foreign Powers' argument in fuel prices contradict the data?
While oil prices remain stable in global markets, it is notable that fuel prices in Turkey have increased by 40% in dollar terms. Experts emphasize that explaining price hikes solely through tensions in the Strait of Hormuz is insufficient, noting that the real issue lies in domestic market balances and the weakening of public oversight.
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The successive hikes in fuel prices in Turkey continue to be debated in the public sphere along the lines of "foreign powers, war, and global crisis." While it is a fact that the tension in the Strait of Hormuz affects the global oil supply, the figures reveal that the price increase in Turkey is far above the world average.
From 2023 to 2026: Brent Crude Fell, Diesel Soared
When comparing data between June 2023 and February 2026, it is evident that the gap between global crude oil prices and pump prices in Turkey has widened dramatically:
June 2023: While the price of a liter of Brent crude was approximately 47 cents, the price of a liter of diesel in Turkey was at the 98-cent level. During this period, the ratio between crude oil and the refined product was about 2 times.
February 2026: Looking at current data, while the liter price of Brent crude has remained almost the same, hovering around the 45-cent band, the liter price of diesel in Turkey has risen to 1 dollar and 35 cents.
These figures show that while the price of crude oil has remained stagnant globally, diesel in Turkey has increased by 40 percent even in dollar terms. Experts point out that this change in price parity cannot be explained solely by external factors.
Loss of Strategic Power and the Price Balancing Problem
In news analyses, emphasis is placed on the changing structures of strategic institutions such as TÜPRAŞ and PETKİM, which once played a balancing role in Turkey's energy market, following their privatization. It is stated that the balancing mechanisms previously provided in the domestic market through "public power" during global fluctuations are no longer in effect.
The "compounded" reflection of global price increases onto the domestic market is interpreted as a lack of a public authority to suppress prices, in addition to the increase in refinery margins and distribution profits.
The Fire in the Citizen's Wallet Continues
The bill for this disproportionate increase in the fuel sector is passed directly to the citizen. This hidden increase in dollar terms causes costs to rise in all sectors from logistics to food, while the consumer's purchasing power erodes day by day. For the average citizen on the street, the situation is summarized as follows: The global crisis is being used as an excuse, but while fuel tanks are not being filled, wallets continue to empty.