Brent oil market carried the results of the global conflicts and crises experienced in 2022 into the new year. While oil demand is expected to reach record levels with the recovery in China, Russia’s shelving of oil sales to countries participating in the ceiling price application causes sharp volatility in prices. Depending on Brent oil, fuel prices in domestic markets are constantly changing. Finally, it was learned that there will be a discount on diesel.
FED DECISIONS AFFECTED PRICING
Brent oil, which rose to $ 87 in the last days of January, fell back to $ 84 yesterday. The decrease in prices was due to the monetary policy decisions to be announced by the US Federal Reserve (Fed) and the cautious attitude of investors before the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ group meeting, which consists of some non-OPEC producer countries. In the event that interest rate increases slow down, oil demand is expected to weaken, and accordingly, oil prices are expected to decrease.
RUSSIA BANS SALES
The European Union’s embargo on Russian refining petroleum products will come into effect on February 5. However, Russia, which made a counter move, decided not to sell oil to the countries participating in the embargo as of February 1st. The decision taken by Russia is expected to continue for five months.
HOW MUCH DISCOUNT HAS BEEN GIVEN TO FUEL?
According to the information received from the sector representatives, a discount of 1 lira and 2 cents is expected for diesel prices as of Thursday, February 2nd. A price change is not expected for the gasoline price. Finally, both gasoline and diesel fuel were discounted by 60 cents, effective from Friday, January 27.
CURRENT FUEL PRICES
Istanbul
The price of one liter of gasoline on the Anatolian side: 21.06 TL
Diesel (diesel) liter price on the Anatolian side is 23.38 TL
LPG liter price is 10.56 TL on the Anatolian side
The price of one liter of gasoline on the European side: 21.08 TL
Diesel liter price on the European side is 23.40 TL
LPG liter price is 10.92 TL on the European side
Ankara
Gasoline price: 21.32 TL
Diesel price: 23.67 TL
LPG price: 10.88 TL
Izmir
Gasoline price: 21.26 TL
Diesel price: 23.73 TL
LPG price: 10.59 TL