Fuel Prices in the TRNC Are More Affordable Compared to Turkey and Southern Cyprus
Fuel prices applied in the Turkish Republic of Northern Cyprus continue to remain at a cheaper level compared to both Turkey and Southern Cyprus.
Current fuel prices in effect in the TRNC offer a distinct price advantage when compared to neighboring regions Turkey and Southern Cyprus.
Comparison of Gasoline Prices
While the price per liter of 95 octane gasoline is applied as 77.12 TL in the TRNC, the same fuel is sold for 81.25 TL in Turkey and 93.48 TL in Southern Cyprus.
According to these figures, 95 octane gasoline finds buyers in the TRNC cheaper by 4.13 TL per liter compared to Turkey and by 16.36 TL compared to Southern Cyprus.
Euro Diesel Price Differences
While the price per liter of Euro Diesel is around the 76 TL level in the TRNC, this figure is calculated as 96.75 TL in Turkey and 108.30 TL in Southern Cyprus.
Accordingly, Euro Diesel can be procured in the TRNC cheaper by 20.75 TL per liter compared to Turkey and by 32.30 TL compared to Southern Cyprus.
Proportional Price Advantages
From a proportional perspective, gasoline prices in the TRNC are approximately 5 percent lower than in Turkey and about 17.5 percent lower than in Southern Cyprus.
Euro Diesel, on the other hand, is sold at a more affordable price in the TRNC by 21.4 percent compared to Turkey and by approximately 29.8 percent compared to Southern Cyprus.
Applied Price Adjustments
With the recent regulation, the price of 95 octane gasoline was determined and finalized as 77.12 TL, and the price of Euro Diesel as 76 TL.
In line with the calculated costs, a difference of 56 kuruş per liter on gasoline and 22.27 TL on Euro Diesel was not reflected in the pump prices.
Support Policies and Sectoral Impacts
In order for the increase in fuel prices to be reflected limitedly on citizens, waivers are made from VAT, customs duty, wharf dues, and various fund deductions.
With this policy implemented, it is aimed to protect the purchasing power of citizens and shield production, tourism, and transportation sectors from cost pressure.