Turkey faces fuel price hikes and retiree protests

Turkey is facing significant economic pressure as fuel prices rise and retirees protest worsening living conditions. A decision to implement a gradual Special Consumption Tax (ÖTV) transition has split a projected 12.48 TL gasoline price hike into three installments across October, November, and December to mitigate immediate inflationary shocks.

In major cities like Istanbul, Ankara, and Izmir, fuel prices have already surged, with gasoline reaching approximately 85 TL per liter. Citizens and business owners have expressed concerns that these increases will drive up production, agriculture, and transportation costs, further straining low-income households.

Simultaneously, retirees have launched nationwide protests to demand better living standards. Demonstrators, including members of the All Retirees Union, have cited the extreme difficulty of covering basic costs like rent and food. The protests follow the death of a retired police officer, which activists have characterized as a consequence of the current economic climate.