Motorists Benefit from Decrease in Diesel Prices Amid Fluctuating Brent Crude Rates
As of July 24, 2024, diesel prices have seen a notable reduction amid ongoing volatility in Brent crude oil prices. Diesel prices have been cut by ₺1.47 per liter, with the updated rates reflecting at pumps starting Thursday.
Currently, in Istanbul, the price of diesel stands at ₺45 per liter, while gasoline is priced at approximately ₺45.1 per liter.
Fuel Price Calculation in Turkiye
Fuel prices in Turkiye, including gasoline and diesel, are determined by adding the Special Consumption Tax (OTV) and the Energy Market Regulatory Authority (EPDK) share to the duty-free refinery price. The duty-free refinery price is derived from the daily CIF Mediterranean product prices and the daily US dollar exchange rate published in the Mediterranean-Italian markets, which are then adjusted for specific price change differences.
Source: NTV / Prepared by Irem Yildiz
