Brent crude fluctuations lead to a decrease in gasoline prices, while diesel remains unchanged. Here’s what you need to know about today’s fuel costs in Turkiye.
Amid the ongoing volatility in Brent crude prices, Turkiye’s fuel prices have once again shifted. As of August 5, 2024, gasoline prices have been reduced by ₺1.73 per liter, a change that will be reflected at the pumps starting tonight. Meanwhile, diesel prices remain steady, with no changes expected in the near term.
Currently, the price of a liter of diesel in Istanbul is ₺45.20, while gasoline is priced at an average of ₺43.64 per liter. These adjustments are closely tied to movements in the Mediterranean-Italian market and fluctuations in the US dollar exchange rate.
Fuel prices in Turkiye are determined by adding the Special Consumption Tax (OTV) and the Energy Market Regulatory Authority (EPDK) share to the refinery price, excluding VAT. The refinery price is calculated based on daily CIF Mediterranean product prices and the current dollar exchange rate, ensuring that prices remain responsive to global market dynamics.
Source: NTV / Prepared by Irem Yildiz
