Due to the historical interest rate decision of the FED and the recession concerns, the great decline in Brent oil was not reflected in the gasoline and diesel pump prices. However, it is claimed that the first discount will be very large.
The recession concerns and inflation uncertainty that emerged with the interest rate hikes continue to suppress oil prices. Finally, after the interest rate decision announced by the FED on September 21, Brent oil prices fell rapidly from 93 dollars to 84 dollars, while Brent Petroleum started the first week of October in the 86-87 dollars band.
The discount was not reflected
Crude oil prices ended the fourth week with a decline, as interest rate hikes in many countries worsened expectations for the global energy outlook, but the expected reduction in fuel pump prices never came.
The last time there was a discount on diesel on September 20.
The expected reduction after oil prices of 84 dollars did not come, but oil prices are still below the last reduction. The latest reduction in fuel prices was made on diesel with 1.76 kuruş on September 20. Between 12-20 September, Brent Oil was trading in the range of 90-93 dollars.
Current fuel prices
In Istanbul, the liter price of diesel is sold at 23.10 liras.
A liter of gasoline is sold at an average of 19.25 liras.