Last-minute update on petrol prices: a reduction is coming. Due to falling oil prices on international markets, a cut of 0.22 Turkish Lira per liter for gasoline is expected to take effect from midnight tonight. Amid the coronavirus impact and the ongoing dispute between Saudi Arabia and Russia, oil has dropped to historically low levels. After Brent crude fell to $27.03 per barrel last night, markets began to anticipate a price reduction.
Following this decline, fuel industry experts say the decrease will be reflected at the pumps. According to officials in the fuel sector, the drop in Brent crude has created expectations of a 0.22 TL per liter gasoline discount in Turkey. Authorities indicate that the reduction will be applied from midnight, lowering the per‑liter retail price of gasoline by 0.22 TL.
How Will Gasoline Prices Change After the Expected Cut?
How will gasoline prices change after the expected cut? Latest reports say that as Brent crude continues to fall, fuel specialists are forecasting a corresponding reduction at the retail level. Industry sources state that once adjustments are applied, gasoline should see a 0.22 TL per liter decrease. The anticipated average retail prices after the reduction are estimated as follows.
Expected average per‑liter gasoline prices after the upcoming discount:
- Istanbul: 5.20 TL
- Ankara: 5.38 TL
- Izmir: 5.38 TL