Turkey’s gasoline prices see third hike in 15 days

ISTANBUL

Gasoline prices continue to burn a hole in Turkish citizens’ wallets, with a 13 kuruş price hike set to go into effect early on Nov. 9, the third rise in the last 15 days. 

The gasoline prices saw a 12 kuruş hike in Oct. 30 and a 9 kuruş hike on Oct. 25.

“Due to a change in post-refinery prices, a 13 kuruş increase is expected to go online in gasoline prices as of early Nov. 9,” the Petroleum Products Employers’ Union (PÜİS) said in a statement on Nov. 8.

A 10 or 12 percent increase is also expected in diesel prices by the weekend.

The price of gasoline per gallon in Turkey is one of the world’s highest on the basis of average daily wages.

With the latest price increases, one liter of gasoline will cost 5.65 liras ($1.45) in the countries three biggest cities: Istanbul, Ankara and İzmir.

After the latest hike, for a car with the fuel capacity of 45 liters it will become 15 liras ($3.9) more expensive to fill up the tank than it was 15 days ago.