08.04.2025 08:00
As the major turmoil in the economy continues, oil prices have fallen below 63 dollars, reaching their lowest level in the last four years. Following the declines, the expected reduction in gasoline and fuel prices on Wednesday night exceeded 3 liras, and the price drop that will be reflected at the pump will be recorded as the largest discount ever made on fuel in the history of the Republic.
After the global tariffs announced by U.S. President Donald Trump, sharp declines were observed in stock markets around the world on April 7. Alongside stocks, significant balancing was seen in commodities and cryptocurrencies, while oil prices fell to $63, reaching their lowest level in the last 4 years.
NO DISCOUNT ABOVE 3 LIRA
While the effects of the drop in oil prices on the fuel sector are being wondered about, sector representatives stated that a discount of more than 3 lira on diesel is expected based on the current tariffs. For gasoline, the expected discount is at the level of 2.5 lira.
LARGEST DISCOUNT EVER MADE AT ONCE
The discount expected to take effect on Wednesday night will also be recorded as the largest discount ever made at once in fuel prices throughout the history of the Republic.
HOW ARE FUEL PRICES DETERMINED?
Fuel prices such as gasoline and diesel are not determined by governments. Governments only have the authority to increase or decrease the tax rate on fuel. Apart from that, the basic price of fuel is determined according to the values in the Geneva stock exchange.
These values are calculated based on the current oil price and the dollar/TL exchange rate, and fuel prices are determined by adding the profit margins of the refineries.