In September 2021 the Turkish lira entered a sharp depreciation against the dollar, and by the first week of December the exchange rate had climbed to around 18 TL per dollar. That rise pushed the euro toward 20 TL and gram gold to roughly 1,082 TL, triggering significant price increases for many goods and services used in daily life.
By mid-December, the Central Bank intervened directly in the markets. On the same day as the intervention, the cabinet approved a foreign-exchange-protected TL time deposit scheme. That decision caused exchange rates and gold prices to plunge overnight: afterward the dollar traded near 11 TL, the euro around 13 TL, and gram gold near 600 TL.
At the turn of the year, rising energy costs hit household budgets first, with natural gas among the services that saw price increases. Shortly after the new year began, the Russia–Ukraine war pushed commodity prices higher. As commodity costs rose, natural gas prices climbed and rumors spread that another round of price hikes was on the way.
When the conflict between the two countries moved toward negotiations and a milder tone, exchange rates eased somewhat. Some consumers hoped that would halt further natural gas increases. Instead, on the first day of the new month they received disappointing news: BOTAŞ announced substantial price increases for natural gas used both in homes and in industry.
Official Announcement from BOTAŞ
BOTAŞ published an official statement confirming another round of natural gas price increases. The company said the renewed hikes were driven by the effects of the Russia–Ukraine conflict and ongoing pressures in international markets.
In its announcement BOTAŞ noted that Turkey benefits from some of the lowest natural gas prices among European gas consumers, while also emphasizing that about 99% of the gas consumed in the country is imported. Given developments in supplier countries and market conditions, BOTAŞ said adjustments to prices were necessary.
Sizeable Increase Rates
According to the notice posted on BOTAŞ’s official channels, the new tariffs take effect on April 1 and apply to natural gas used in households and in industry.
BOTAŞ detailed the new increase rates as follows:
- Natural gas used for electricity generation: 44.30%
- Natural gas used outside electricity generation (industrial and other uses): 50%
- Natural gas used in households: 35%
“Government Support in Place”
In the same announcement BOTAŞ mentioned that the state provides significant support for natural gas consumption. The company stated that the government covers approximately 76% of the cost burden for consumers, suggesting that the increase will be partly offset by public assistance.
Public Reaction to BOTAŞ’s Statement
BOTAŞ described the raises as limited and framed them as necessary given international conditions. Nevertheless, the announcement drew criticism on social media. Many users reacted angrily, saying repeated price hikes since the start of the year have left households struggling to make ends meet.
Citizens posting on social platforms complained that frequent increases have eroded their ability to cover basic expenses, and they criticized the scale and timing of the new adjustments despite the government support referenced by BOTAŞ.