Uncertainty in global oil markets stemming from the Strait of Hormuz and the rise in crude oil prices have increased expectations for new hikes in fuel prices in Turkey. While the price of a barrel of Brent crude has climbed to the 87-88 dollar level, the price of a barrel of US West Texas Intermediate (WTI) crude has also risen to the 82 dollar band.
According to information shared by journalist Olcay Aydilek on his social media account, price increases for gasoline and diesel are on the agenda starting from midnight tonight. It is expected that approximately 25 percent of the required increase will be covered by a Special Consumption Tax (ÖTV) adjustment, while the remaining portion will be reflected directly in pump prices.
According to the projections, the total increase will be approximately 2 TL for gasoline and 6.85 TL for diesel. The portion expected to be reflected in pump prices is estimated to be 1.50 TL for gasoline and 5.13 TL for diesel.
If this scenario materializes, the price of diesel will approach the 90 TL level in some cities. The impact of the volatility in oil markets and developments regarding the Strait of Hormuz on fuel costs is expected to be monitored in the coming days.
CURRENT FUEL PRICES
Before the expected price hikes, gasoline, diesel, and LPG prices in Istanbul, Ankara, and Izmir are as follows:
| Region | Gasoline | Diesel | LPG |
|---|---|---|---|
| Istanbul European Side | 69.92 TL | 80.07 TL | 33.79 TL |
| Istanbul Asian Side | 69.77 TL | 79.93 TL | 33.19 TL |
| Ankara | 70.89 TL | 81.19 TL | 33.89 TL |
| Izmir | 71.17 TL | 81.46 TL | 33.79 TL |
News Source: 12punto
