Diesel outperformed gasoline.

In recent weeks, the fluctuating geopolitical risks have also been reflected in oil prices. The price of Brent crude oil rose by 5.5% last week due to the Russia-Ukraine tensions and closed at $74.65 on Friday.

DECLINED WITH "CEASEFIRE"

In the new week, news of a ceasefire agreement between Israel and Hezbollah has supported a decrease in prices by alleviating concerns about oil supply. On November 26, 2024, the price of Brent crude oil started the day at $72.70. Thus, oil has decreased by 2.6% compared to last week's closing.

DECLINE REMAINED LIMITED

Analysts state that despite the "ceasefire" news, uncertainty and conflicts continue, adding, "Additionally, the rising Russia-Ukraine tensions and Iran's plans to expand nuclear fuel production have limited further declines in oil prices. Now, the OPEC meeting on December 1 is critical."

DIESEL PRICES INCREASING

According to a report in Türkiye Gazetesi, significant developments in fuel prices have been observed in the domestic market, especially in the last two weeks. Particularly after November 13, diesel prices have increased three times. During this period, the price of diesel per liter in the European side of Istanbul rose from 42.87 TL to 44.18 TL.

GASOLINE GETTING CHEAPER

During the same period, there was one reduction in gasoline prices. The price of gasoline per liter in the European side of Istanbul decreased from 42.89 TL to 42.32 TL. Thus, the gap between gasoline and diesel has opened in favor of diesel by 1.86 TL. Analysts state that the Russia-Ukraine tensions are reflected in global markets for diesel product prices, and that the difference stems from this.