Expectation of Discount on Diesel Prices and Global Developments
With a discount of 4 Turkish liras and 9 kurush expected on the liter price of diesel starting tonight, prices are projected to fall below 100 liras again.
Along with the decline in global markets, a discount of 4 liras and 9 kurush on diesel is expected starting from midnight. While it is anticipated that the liter price will drop below 100 liras again with this discount, it is stated that prices could rise again due to SCT increases.
Oil Declined in Global Markets
The expectation that alternative routes could be found for oil shipments from the Middle East caused volatility in global markets. Brent crude futures fell by 1 percent to $103.77.
Metric Ton Price of Diesel Started to Fall
The metric ton price of diesel, which rose up to $1,568 on Tuesday, started to decline as of Thursday and began trading at $1,484.
Diesel Prices Had Reached Three Digits
With the hikes made this week, the liter price of diesel exceeded 100 liras for the first time in Turkey's history. In some provinces such as Van, Bitlis, and Iğdır, prices had surpassed 103 liras.
Discount Expected at Midnight
Following the decline in product prices, a discount of 4 liras and 9 kurush is expected on the liter of diesel starting from midnight. With the discount, prices are projected to drop below 100 liras again.
SCT Increases May Affect Prices
Industry sources state that the planned increases of 3 liras each in the SCT amount in October, November, and December, along with the 20 percent VAT, could push pump prices back up.