09.07.2026 08:51
In global oil markets, rising prices due to Trump's Iran exit and the refinery crisis in Russia are reflected at the pump. A massive hike of 3 lira 10 kurus is expected for diesel, effective from Friday, July 10. With the latest increase, the price of diesel in Istanbul will approach 70 lira per liter, while in Ankara and Izmir it will exceed the 71 lira mark.
Geopolitical tensions and supply disruptions in global markets continue to hit fuel prices. According to the latest information from industry sources, diesel fuel is expected to be increased by 3 lira 10 kuruş per liter, effective as of Friday, July 10, 2026.
With this expected massive increase reflected at the pump, diesel prices in Istanbul will approach 70 lira, while in Ankara and Izmir they will exceed the 71 lira threshold. No new price changes are expected for gasoline and LPG groups at this stage.
TRUMP'S IRAN MOVE JUMPS OIL PRICES
One of the main reasons for this sharp fuel price hike expectation was the tension reflected from the historic NATO Summit in Ankara. US President Donald Trump's statements that the ceasefire with Iran is "over" immediately increased geopolitical risk perception in global markets.
With rising tensions around the Strait of Hormuz and concerns over oil supply, oil prices rapidly increased by 5 percent, climbing to $78 per barrel. This sudden surge also created significant selling pressure in global stock and bond markets.
RUSSIAN REFINERY HIT, EXPORT BAN IMPOSED
Another critical development triggering supply tightening in the market occurred on the Ukraine-Russia front:
Omsk Refinery Halted: Ukraine launched a drone attack on Russia's largest oil refinery, the Omsk facility. This giant plant, which processed 22 million tons of oil and produced 8 million tons of diesel in 2024, was forced to halt operations after the attack.
Temporary Export Ban: Russia, aiming to prevent supply shortages and domestic price increases, announced a temporary ban on diesel exports until July 31. This decision caused European diesel margins to reach record levels.
THIRD HIKE IN A FEW DAYS: TOTAL INCREASE TO EXCEED 5 LIRA
Diesel prices have been experiencing a storm of increases in recent days. As of July 8, the liter price had been raised by 1 lira 33 kuruş, followed immediately by 76 kuruş. With this new increase of 3 lira 10 kuruş expected to be reflected at the pump on Friday, the total price hike for diesel within just a few days will exceed 5 lira.
EXPECTED NEW PRICES AFTER THE HIKE
If the 3 lira 10 kuruş increase is fully reflected at the pump, the approximate diesel liter prices in major cities will be as follows:
- Istanbul (European Side) 69.88 TL
- Istanbul (Anatolian Side) 69.73 TL
- Ankara 71.00 TL
- Izmir 71.27 TL