Hormuz upends markets: Expected 8 TL discount on diesel cancelled!

The renewed rise in tension between the US and Iran centered on the Strait of Hormuz has directly affected energy markets. The rise in global oil prices has also changed fuel expectations in Turkey.

TENSION SHAKES MARKETS AGAIN

Previous statements that the strait could be reopened had created a short-term relief in the markets and strengthened the expectation of a price cut. However, developments in the Gulf over the weekend reversed this optimistic atmosphere.

SHARP JUMP IN OIL PRICES

Reports that US elements intervened in an Iranian-flagged vessel and Iran's announcement that the strait had been closed again caused volatility in global markets. While Brent crude rose to the 95 dollar level, the possibility of an expected drop in fuel prices disappeared.

EXPECTED DISCOUNT ON DIESEL DID NOT MATERIALIZE

Following the increase in oil prices, the planned 8 TL discount on diesel was cancelled. While price increases from recent weeks were maintained, pump prices continued to remain at high levels.

CURRENT FUEL PRICES IN MAJOR CITIES

As of April 20, 2026, fuel prices in some provinces are as follows:

• Istanbul (European Side): Gasoline 62.70 TL, diesel 71.59 TL, LPG 34.99 TL
• Istanbul (Anatolian Side): Gasoline 62.56 TL, diesel 71.45 TL, LPG 34.39 TL
• Ankara: Gasoline 63.67 TL, diesel 72.71 TL, LPG 34.87 TL
• Izmir: Gasoline 63.94 TL, diesel 72.99 TL, LPG 34.79 TL

News Source: 12punto