As lira depreciates, Turkish fuel prices rise
The price of petroleum products and natural gas on the Turkish market rose Wednesday, April 4, by approximately 20 percent, as a result of the accelerated depreciation in the value of the Turkish lira, reported the Turkish Association of Fuel Distributors.
Specifically, gasoline prices were increased between 19.74 and 20.97 percent, diesel oil prices between 17.61 and 17.74 percent, and kerosene prices were raised between 17.87 and 18.09 percent. Retail prices of liquefied petroleum gas (LPG) were raised by between 16.3 percent and 19.5 percent.
This means that fuel prices in Turkey have increased by about 41 percent since the flotation of national currency on February 22. This is still three percentage points lower than the 44 percent depreciation of the Turkish lira against the US dollar over the same period. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)