Turkey faces warning of triple-digit fuel prices, potentially exceeding 100 TL

Fuel prices in Turkey are on an upward trajectory, with gasoline and diesel costs already exceeding 70 TL and 80 TL per liter respectively in recent years. Industry experts now warn that prices could reach three digits, potentially surpassing 100 TL per liter by the second half of 2027.

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Almost certain. Frankly, when you look at it, this year's inflation is estimated to be around 30 percent. The dollar exchange rate needs to increase in parallel with inflation. It's a bit behind that. Let's do the 2027 inflation estimate together. At best, it will be 20 percent. ÖTV increases will also come in fuel. There will not be a huge drop in fuel after the war. Some of the drops will also go to ÖTV. It is likely that we will see three-digit figures in gasoline and diesel in the second half of 2027. If not in July next year, it is likely to be in the second half.

Cemil Direkci, Chairman of Termopet, a leading fuel distribution company, explained the current "equal-mobile" system implemented after the US-Iran conflict. Under this system, 25% of price increases are covered by special consumption tax (ÖTV), with the remaining 75% reflected at the pump. Recent discounts have been absorbed by the ÖTV, keeping pump prices stable for now.

Direkci anticipates that fuel prices will likely reach three-digit figures by the second half of 2027. He cited an estimated 30% inflation for the current year, with the dollar exchange rate expected to follow. Even with a conservative 20% inflation forecast for 2027 and anticipated ÖTV increases, coupled with the absence of significant post-war price drops, three-digit prices appear probable.

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There is a slight slowdown in diesel. The mirror of commercial activities is directly diesel consumption. Diesel is used intensively in agriculture and transportation. There is a slowdown in commercial activities. The effect of disinflationary policies is seen in this regard. The significant increase in prices may have accelerated this.

Furthermore, Direkci noted a recent decline in diesel consumption, which he attributes to a slowdown in commercial activities. Diesel is a key indicator for sectors like transportation and agriculture. He suggested that disinflationary policies and the high cost of fuel may be accelerating this trend. Interestingly, Direkci observed that wealthier individuals complain more about fuel prices than lower-income groups, a phenomenon he links to economic shifts.

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The wealthy complain more than the low-income earners. I attribute this to this. Economic...