Gasoline Price Increase Announced. After significant price cuts due to the coronavirus, a decision has been made to raise gasoline prices. Following a 0.22 TRY per liter reduction on March 24, 2020, authorities have announced a 0.07 TRY per liter increase effective at midnight. As the coronavirus became a global pandemic and tensions between Russia and Saudi Arabia pushed crude oil prices to historic lows, domestic fuel prices in Turkey have fluctuated frequently. After the 0.22 TRY cut on March 24, 2020, a 0.07 TRY increase will take effect from midnight.
Gasoline Price Increase
A 0.07 TRY per liter increase for gasoline will take effect on March 26, 2020. Shortly after the 0.22 TRY per liter reduction, officials announced another adjustment, this time an increase effective at midnight. According to a statement from the Energy, Petroleum and Gas Supply Stations Employers’ Union, “As of Thursday, March 26, 2020, a 0.07 TRY per liter increase has been applied to gasoline. This increase has been reflected at the pump.”
After the adjustment, expected retail gasoline prices per liter in major cities are estimated as follows:
- Istanbul gasoline price per liter: 5.10 TRY
- Ankara gasoline price per liter: 5.19 TRY
- Izmir gasoline price per liter: 5.21 TRY
These city prices are indicative. Actual pump prices may vary depending on distribution companies’ pricing, market competition, and local conditions.