Diesel prices were increased by 7.76 TL and gasoline prices by 2.47 TL. With the increase taking effect at midnight, the price of diesel per liter exceeded 90 TL. The increases were reportedly driven by rising Brent crude oil and global refined product prices following the US attacks targeting Iran.
Why it matters
This development shows that fuel prices are shaped not only by decisions in the domestic market but also by movements in global oil and refined product markets. The fact that the rise in Brent crude coincided with the attacks targeting Iran raises the question of how significantly geopolitical developments are reflected in the prices consumers face. Diesel prices exceeding the 90 TL threshold also makes the difference in the increases between the two fuel types more pronounced and creates a new reference point, particularly for those who monitor prices daily. However, the text does not provide a framework for how long the impact of this volatility in global markets on fuel prices will last or in which direction subsequent pricing will develop.