May 15 2018

Turkey raises petrol prices silently

Turkish petrol prices rose on Tuesday in an unannounced move by the industry body, Cumhuriyet newspaper reported,

The price of gasoline increased by about 3 percent to a minimum of 6.2 liras ($1.4) a litre, Cumhuriyet said.

Turkey’s Petrol Products Employers’ Union (PUIS) raised prices without an official announcement on its website, breaking with tradition, the newspaper reported.

Turkish President Recep Tayyip Erdoğan has called snap presidential and parliamentary elections for June 24 and petrol price increases, normally automatically set, have lagged increases in the price of oil and the lira’s depreciation.

The price of diesel increased about 2.7 percent, Cumhuriyet said.