Historic price hike for diesel: A 50-liter tank will cost 412 TL more!

Supply concerns fueled by rising geopolitical tensions in global oil markets have reflected as an expectation for a new price hike in fuel. According to information obtained from industry sources, a price increase of 8.24 TL per liter is projected for diesel.

The expected increase is estimated to be reflected in pump prices on the night connecting September 3 to September 4. If the hike occurs, the single-night increase for diesel will reach approximately 10 percent.

The 8.24 TL rise in diesel prices will also directly affect the fuel tank costs for vehicle owners. The amount to be paid for a 50-liter tank will increase by 412 TL.

EXPECTED PRICES AFTER THE HIKE

Following the hike, the price per liter of diesel is expected to rise to 89.38 TL on the European side of Istanbul and 89.28 TL on the Anatolian side of Istanbul. It is estimated that the price will reach 90.73 TL in Ankara and 90.71 TL in İzmir.

According to this table, if the hike takes place, the price per liter of diesel will exceed the 90 TL threshold in Ankara and İzmir.

In the calculation of fuel prices, the Special Consumption Tax (ÖTV) and the Energy Market Regulatory Authority (EPDK) share are added to the duty-free refinery price; then, the refinery sales price excluding VAT is determined. For the duty-free refinery price, daily CIF Mediterranean product prices in the Mediterranean-Italian market and the dollar exchange rate are monitored.

Recently, the resurgence of tensions between the US and Iran and Ukraine's attacks on oil refineries in Russia are cited among the factors increasing concerns regarding global oil supply.

News Source: 12punto