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Türkiye is set for a major fuel price hike on Friday as gasoline rises by ₺2.47 (5.1 cents) per liter and diesel by ₺7.76, nearly three times the increase for gasoline, with the full hikes reflected at the pump amid elevated global oil prices and widening refinery margins.
Gasoline prices on Istanbul’s European side stand at ₺74.35 per liter on Thursday, while diesel costs ₺81.10. After the hike, gasoline rises to ₺76.82 per liter, and diesel reaches ₺88.86.
The new gasoline price is 14.4% above its level of ₺67.18 a month earlier, while diesel is up 9.7% from ₺80.97.
Compared with prices before the Iran war began, gasoline is 31.7% higher than its Feb. 28 level of ₺58.34, while diesel is up 47.1% from ₺60.39.
Türkiye's fuel prices are shaped by international refined-product prices, which are influenced by Brent crude prices, as well as the lira-dollar exchange rate, taxes, and distribution and dealer margins.
Brent, the international benchmark, stands at around $96.1 per barrel as of Thursday, nearly 15% higher than a month earlier.
Türkiye's largest refinery, Tupras, meanwhile reported that its diesel margin rose 13% in August, from $75 per ton to $84.7 per ton, marking a 285% increase from a year earlier.
Its gasoline margin also climbed 6% over the month, rising from $43.9 per ton to $46.6 per ton, and was up 153% year over year.
Türkiye introduced a sliding-scale tax system in March that cuts special consumption tax (SCT) on gasoline and diesel when higher international oil prices or exchange-rate movements push up refinery costs, helping cushion the impact of rising energy prices.
The government began phasing out the system in July, pointing to easing international oil prices at the time and the need to reduce its impact on the budget. The mechanism is due to be fully scrapped on Oct. 1.
For gasoline, the tax mechanism currently absorbs 25% of increases in domestic refinery prices, while the remaining 75% is passed on to consumers at the pump.
For diesel, the government zeroed the excise tax last month after removing it from the sliding-scale system. It began restoring the SCT from Sept. 1, with the tax rising by ₺3 per liter each month through December before returning to ₺13.9006 per liter on Jan. 1, 2027.
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