ANKARA
Turkish gasoline prices dropped from average of 0.8-0.9 liras per liter while diesel oil prices fell by 0.11 liras per liter at midnight on Thursday.
In Ankara 95-octane unleaded gasoline will be sold between 4.31 and 4.32 liras per liter, between 4.30 and 4.32 liras in Istanbul and the price in Izmir dropped to between 4.32 and 4.33 liras.
This will be the fifth price cut after a 0.12 lira per liter discount on Nov. 18.
Diesel oil prices fell by 0.11 liras per liter. In Ankara and Izmir, diesel oil will be sold at 3.79 liras per liter while in Istanbul the price ranges between 3.79 and 3.82. The European side of Istanbul has cheaper selling prices compared to the Asian side.
Falling oil prices across the world are bringing down gas prices for oil-dependent countries like Turkey and their consumers.
Brent crude oil price, the global benchmark for oil prices, has fallen to almost $50 per barrel in the last five months from $115.67 in June to $63 on Tuesday, Dec. 11 -- the lowest in five years -- due to global demand concerns and geopolitical developments.
Turkey, a net importer of oil, brought in $56 billion worth of energy imports in 2013, and $37 billion in the first eight months of 2014, according to the Turkish Statistical Institute.
EMRA, the top energy regulating authority, established in 2001, has a core responsibility to regulate energy, oil, natural gas, electricity, petroleum and LPG markets in Turkey. It also gives licenses for oil, gas, solar and wind energy companies in the country.
1 U.S. dollar equals to 2.2637 Turkish lira.
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