Israel-Iran impact on the fuel market: Double price hike coming
The military tension between Israel and Iran has led to a rise in oil prices and fuel price hikes in Turkey. Industry representatives state that new price increases are on the way.
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The airstrikes carried out by Israel on various regions of Iran on the night of June 13 resulted in the loss of 78 lives. While these attacks targeted Iran's nuclear infrastructure, a swift response came from Tehran. The Iranian Revolutionary Guard Corps announced that they had launched 150 missiles at Israel. The Israeli military confirmed the attack and raised the alert level to the highest in cities such as Tel Aviv and Haifa.
INCREASE IN OIL PRICES
This military activity has also affected global energy markets. Following Israel's attack, oil prices reached their highest level in the last five months. This situation has also been reflected in fuel prices in Turkey. A price hike of 1.46 TL was applied to gasoline yesterday, and 1.49 TL to diesel today.
According to a report by the pro-government newspaper Türkiye Gazetesi, industry sources anticipate that these increases will continue. As of June 17, a further increase of 1.70 TL for gasoline and 1.30 TL for diesel is expected. These developments are causing concern among consumers in Turkey.