Gasoline price increase expected in Turkey

Despite the decline in global oil prices, a significant increase in gasoline prices is forecast in Turkey — the reason cited is the high volatility of the exchange rate. According to data, the price of gasoline may rise by 1.22 Turkish lira per liter. At the same time, it is expected that in different cities the prices will reach the following levels: in Istanbul — 52.85 ₺/l, in Ankara — 55.68 ₺/l, and in Izmir — 53.95 ₺/l.

Such an increase will significantly affect car owners’ expenses. On average, a passenger car fuel tank holds about 50 liters, which means a full tank will cost approximately 2,642 lira.

Context and reasons for the increase

The decline in global crude oil prices has not stopped the rise in domestic price pressures. The high volatility of the Turkish lira increases the burden on imports — since fuel prices are calculated in foreign currency, exchange rate fluctuations directly affect the final consumer price.

It was previously reported that in June, the rise in gasoline prices in Turkey was about 1 ₺ per liter due to the increase in Brent oil prices to $67 per barrel. Subsequently, in July, further increases were observed — diesel fuel rose by 1.20 ₺, while gasoline and liquefied petroleum gas (LPG) prices also continued to grow.

Conclusion

Under current conditions, the expected gasoline price increase of 1.22 lira is mainly linked to the persistent instability of the exchange rate and the impact of external economic factors on fuel imports. The rise to 52–56 ₺ per liter may place serious financial pressure on car owners, especially when refueling fully — the cost of one such operation may amount to several thousand lira.