Turkey struggles to keep oil prices stable: new increases in petrol and diesel

There are new price increases in petrol and diesel as the Turkish market is once more struggling to keep oil prices stable.

Due to the change in the refinery output prices, 15 Kurus price hike in diesel and 11 Kurus in petrol are affected as of today after 27 Kurus increase at the beginning of this month.

“The price increase in fuel products effective as of Wednesday, 11 Kurus in gasoline, 15 Kurus in diesel/ Lt pump prices have been reflected to increase,” the Energy Oil Gas Supply Stations Employer Union (EPGIS) said in a statement.

The average price of diesel increased from 6,39 lira to 6.54 Lira in the capital, Ankara. A liter of diesel rose to 6,47 from 6,32 Lira and from 6,40 to 6,55 Lira in Izmir.

The average price of petrol per liter increased from 7.05 to 7.16 Lira in Ankara. The liter of gasoline rose from 6.97 to 7.08 Lira in Istanbul, and from 7,04 to 7.15 Lira in Izmir.

In Turkey, oil prices have shown little changes in different regions due to competition and transportation factors as distribution companies determine prices.

Turkey is an oil-dependent country obstacle by a weak currency. There is also the worsening tension between Ankara and Washington with the embargo imposed on Iran by the latter, heavily impacting on Turkey. Since January 2015, fuel prices have doubled in Turkey.

Turkish motorists get small reprieve as fuel prices drop

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