Turkey gasoline prices expected to rise following new fuel hike

Turkey is facing a new increase in gasoline prices, driven by fluctuations in global oil markets and exchange rates. Industry sources indicate that a price hike is expected to take effect at midnight on Monday, becoming visible at pump stations on Tuesday, August 11.

While the total product price increase is expected to be 2.08 TL, approximately 1.56 TL of this amount will be reflected in consumer pump prices, as the remaining 0.52 TL is expected to be absorbed through existing tax mechanisms. This follows a previous recent increase of 1.06 TL, bringing the total cumulative increase for gasoline to 2.62 TL within a few days. For a standard 50-liter tank, this represents an additional cost of approximately 131 TL.

Experts like Cahit Saraçoğlu note that these changes are tied to international Brent crude volatility. Termopet Chairman Cemil Direkci has also noted long-term trends, suggesting that due to inflation and tax adjustments, gasoline and diesel prices could potentially reach triple digits (100 TL) by the second half of 2027. Current prices in major cities like Istanbul and Ankara are approaching the 70 TL threshold for gasoline following the anticipated update.