After Gasoline, Diesel Prices are Set to Rise Too

The recent wave of fuel price increases continues to affect consumers. Following a rise of 1.24 TL in gasoline prices, an increase in diesel prices is also expected. The new prices are anticipated to reflect at the pump as of January 8.

What are the new gasoline prices? As of midnight on January 7, the price of gasoline saw an increase of 1.24 TL per liter, which has been reflected in the pump prices. With these new prices, the cost of gasoline is 45.30 TL per liter in Istanbul, 45.69 TL in Ankara, and 46.15 TL in Izmir.

This increase in gasoline prices will impact not only individual consumers but also the commercial transportation sector. The rise in transportation costs may create a domino effect in other sectors. It is thought that this situation could also affect overall inflation rates.

What will diesel prices be? After the rise in gasoline prices, a further increase of 0.98 TL per liter in diesel is expected starting January 8. With this increase, the average price of diesel will be 45.74 TL per liter in Istanbul, 46.29 TL in Ankara, and 46.78 TL in Izmir.

The increase in diesel prices will lead to higher costs in the transportation and logistics sectors, which may subsequently affect the prices of end products. Experts indicate that these price increases may exert pressure on the consumer price index and negatively impact inflation.

What factors affect prices? Fuel prices can vary across provinces, districts, and distributors. The underlying reasons for these discrepancies include exchange rates, international oil prices, and refinery costs.

Fluctuations in international oil prices are reflected in local fuel prices. These fluctuations may stem from global economic developments, geopolitical tensions, and imbalances between supply and demand. Refinery costs play a significant role in determining fuel prices by directly affecting local production costs.