The volatility in the international oil market and fluctuations in exchange rates directly affect fuel prices. Due to the fluctuations in Brent crude oil prices and exchange rates, fuel prices continue to rise. On January 16, the price of diesel was increased by 1 lira and 47 kuruş per liter, while gasoline saw a new increase of 91 kuruş starting from last night. Thus, the pump price of gasoline has changed across Turkey. Here are the latest figures for fuel prices: ISTANBUL EUROPEAN SIDE FUEL PRICESGasoline price per liter: 46.22 TL Diesel price per liter: 47.28 TL LPG price per liter: 26.49 TL ISTANBUL ASIAN SIDE FUEL PRICESGasoline price per liter: 46.07 TL Diesel price per liter: 47.17 TL LPG price per liter: 25.89 TL ANKARA FUEL PRICESGasoline price per liter: 46.72 TL Diesel price per liter: 47.95 TL LPG price per liter: 26.39 TL IZMIR FUEL PRICESGasoline price per liter: 47.10 TL Diesel price per liter: 48.32 TL LPG price per liter: 26.24 TL HOW ARE FUEL PRICES DETERMINED?Fuel prices are determined according to the Free Pricing System that came into effect on January 1, 2005. With this system, fuel distribution companies can set their prices according to their own policies. Additionally, while dealers apply the ceiling prices suggested by distribution companies, they have the freedom to determine their own selling prices based on the competitive conditions in their region. Retail fuel prices in Turkey are shaped in this competitive environment.
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