11.08.2026 07:50
Following the rise in oil prices due to US-Iran tensions and developments in the Strait of Hormuz, a new increase has been applied to gasoline. While 1.56 TL of the 2.08 TL increase was reflected at the pump due to the floating tax system, the price per liter of gasoline rose to as high as 72.53 TL in some provinces.
The escalating tension between the USA and Iran, along with fluctuations in global oil prices, continues to change fuel price displays across the country. Following the recent increase of 1.06 liras, another hike has been applied to gasoline, and the new prices have been reflected at the pumps in stations.
HORMUZ STRAIT CRISIS PUSHES PRICES UP
The activity in global energy markets has accelerated the cycle of declines and rises in fuel prices. The failure to reach an agreement between the USA and Iran, the halt of ship traffic in the strategically important Strait of Hormuz, and serious drops in oil shipments have once again put oil barrel prices on an upward trend. This supply concern and geopolitical risks in global markets have been directly reflected as price hikes in fuel prices in Turkey.
PRICE STABILIZATION MECHANISM ACTIVATED
Following the 1.06 lira increase in gasoline in recent days, a new price update became inevitable due to rising costs. As of Tuesday, August 11, an increase of 2.08 liras was applied to the liter price of gasoline. However, with the activation of the price stabilization mechanism in this process, part of the total increase was covered by the state through tax adjustments. This way, instead of the full 2.08 lira hike, 1.56 liras was directly reflected in the prices at the pump, affecting the citizens' pockets.
NEW PRICES TAKE THEIR PLACE ON THE DISPLAYS
Following the actual 1.56 lira pump increase, price displays at fuel stations were updated once more as of midnight. With the new pricing, the liter price of gasoline has risen to 69.77 liras in Istanbul, 70.89 liras in Ankara, and 71.17 liras in Izmir. With logistics and transportation costs added to the prices, the liter price of gasoline has reached up to 72.53 liras at stations in eastern provinces.