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Türkiye is preparing for another sharp increase in fuel prices, with reports indicating that starting from Saturday, the price of gasoline is expected to rise by ₺1.51 (3.8 cents) per liter, while diesel will see a steeper hike of ₺3.3 per liter, according to Turkish media.
Fuel prices in Türkiye continue to fluctuate in line with global oil prices, currency exchange movements, and tax hikes. Recent volatility in the Brent crude oil market, along with changes in the U.S. dollar-Turkish lira exchange rate and successive increases in special consumption tax, have all contributed to the pressure on pump prices.
Here are the updated fuel prices for Istanbul’s European side after the expected price hike on June 21:
These figures are expected to rise with the new adjustments coming into effect over the weekend.
The rise in prices comes against the backdrop of growing fears over global oil supply disruptions stemming from escalating hostilities between Israel and Iran. The conflict has intensified following bilateral military strikes, raising security concerns, particularly around the Hormuz Strait, a strategic chokepoint for global energy shipments.
Most recently, U.S. President Donald Trump stated on Tuesday that his administration will decide within the next two weeks whether to take part in the conflict, though he also indicated that diplomatic efforts could be pursued to de-escalate tensions. Trump’s remarks pushed oil prices down by 2% on Friday; however, Brent crude still hovers around $77.
In addition to international developments, the depreciation of the Turkish lira has further increased the cost of importing fuel, compounding domestic price pressures. The local currency’s volatility, exacerbated by geopolitical risks, continues to drive up the retail cost of gasoline and diesel.
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