Gasoline prices to follow diesel with discounts expected after oil price drop

Turkey is poised for a reduction in fuel prices, with gasoline set to see a significant discount following a drop in Brent crude oil prices. This global market shift is attributed to a potential agreement to end the conflict between the United States and Iran.

Starting midnight, gasoline prices are expected to decrease by 3.96 Turkish Lira per liter. However, consumers will likely only see about 99 kuruş of this reduction reflected at the pump. This is due to the "eşel mobil" system, which adjusts Special Consumption Tax (ÖTV) to offset fuel price changes. A substantial portion of the discount is absorbed by tax adjustments, a mechanism also seen in recent diesel price reductions.

Diesel prices have already experienced consecutive decreases this week. A total of 2.11 Turkish Lira has been cut from diesel prices over three days, with reductions of 1.23 TL on Tuesday, 42 kuruş on Wednesday, and 46 kuruş on Thursday. These cumulative drops are now being reflected at the pump.

Global energy markets are showing a downward trend in both gasoline and diesel prices per metric ton. Experts suggest this decline in energy prices, coupled with currency exchange rate movements, will continue to influence domestic fuel costs. Industry representatives indicate that further discounts may be possible if the downward trend in oil and fuel product prices persists, driven by factors like the US-Iran developments.