Current fuel pump prices as of October 14
Following the increase in oil prices in global markets, there were no changes made to gasoline, diesel, and LPG prices on October 14.
While oil prices rose due to attacks by the Houthis in Yemen and global supply concerns, no new changes occurred in fuel pump prices across Turkey as of October 14, and current figures remained unchanged.
Developments in the Global Oil Market
Oil prices rose on Wednesday as attacks by Iran-backed Houthis in Yemen against Saudi Arabia heightened concerns over supply security. The price of Brent crude oil increased by 0.8 percent to reach $106.58 per barrel, while US WTI crude rose by 0.9 percent to $94.94.
Saudi Arabia and Attack Details
The Saudi Arabian Ministry of Energy announced that the Houthis targeted an administrative building belonging to Saudi Aramco in Dhahran, resulting in a small-scale fire. The intensification of missile and drone attacks against the country over the past week brought risks regarding oil supply to the agenda, with Riyadh International Airport also being targeted.
Supply Balance and Market Expectations
While expectations that Russia could increase diesel exports were evaluated as a development that could ease supply tightness in the market, OPEC data revealed that Saudi Arabia increased its production last month. Tensions in the Strait of Hormuz and potential U.S. moves are affecting the market's trajectory.
Recent Changes Made
Effective from midnight on October 10, a price hike of 6.39 TL had been made on diesel, and a 0.96 TL discount on gasoline. On October 14, however, there were no new changes in fuel prices.
Istanbul European Side Current Figures
As of October 14, gasoline is sold at 83.80 TL, diesel at 96.60 TL, and LPG at 41.20 TL on the European side of Istanbul.
Istanbul Asian Side Prices
As of October 14, gasoline is set at 83.60 TL, diesel at 96.50 TL, and LPG at 40.60 TL on the Asian side of Istanbul.
Ankara and Izmir Fuel Prices
In Ankara, gasoline is traded at 84.80 TL, diesel at 97.70 TL, and LPG at 41.29 TL; whereas in Izmir, gasoline is at 85.10 TL, diesel at 98.00 TL, and LPG at 41.20 TL levels.