As of tonight, an increase of 2 liras and 25 cents for diesel and 79 cents for gasoline is expected. Thus, fuel prices will be increased for 7 consecutive days. The liter price of diesel will exceed 25 TL tonight.
Russia's invasion of Ukraine, harsh sanctions decisions and the increase in the dollar exchange rate bring along a rain of hikes in fuel oil.
Sözcü, based on industry sources according to the news79 cents for gasoline, 2 liras and 25 cents for diesel is expected to be effective as of midnight tonight.
With tonight's hike, fuel prices will be hiked on the 7th consecutive day.
MOTORINE EXCEEDS 25 TL
With tonight's hike, the liter price of gasoline will rise to approximately 21,14 TL in Istanbul, 22,24 TL in Ankara, and 22,26 TL in İzmir.
The liter price of diesel will increase to approximately 25,06 TL in Istanbul and 25,17 TL in Ankara and İzmir.
Due to the high demand for diesel in global markets and the fact that most of the refineries are produced in Russia, the increase in the product in question is higher than that of gasoline.
In addition to the increase in transportation and insurance costs in oil, the increase in the profit margins of the refineries is effective in the increase in fuel prices.
US IMPORT PROHIBITION INCREASED PRICES
US President Joe Biden has banned the import of oil, natural gas and coal from Russia with his decision yesterday.
Russia's share in the USA's oil and petroleum products imports in 2021 was 8 percent, and an average of 700 thousand barrels of crude oil was imported from Russia per day.
While Britain banned oil purchases from Russia, it left coal and natural gas out of the scope of the ban for now.
Although the European Union countries, which depend on Russia by 25 percent in oil and 40 percent in natural gas, have not yet included energy products within the scope of the ban, many European companies have started to end or reduce their crude oil purchases from Russia.
With these developments, crude oil prices increased rapidly, approaching the record level of 2008 dollars seen in 147.
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