Turkey's gasoline and diesel prices surged from previous month during the first half of May even though the second half of the month saw a continuous drop, according to Turkey's energy watchdog.
'In May, 95-octane unleaded gasoline was sold at an average of 4.72 Turkish Liras per liter before taxes while the tax free price of fuel oil per liter was 1.46 liras,' Turkish Energy Regulatory Market, EMRA, announced in its Oil and Liquefied Petroleum Gas Pricing Report on Monday.
On the European side of Istanbul in May, the final price of 95-octane unleaded gasoline was 4.70 liras whereas this was 4.49 liras in April. Taxes made up 2.90 liras of the final price of 4.70 liras while the distributor's margin received 0.38 liras of that amount, the report revealed.
The report also showed that in April the final price of fuel oil was 3.83 liras. In May, however, this was sold at an ultimate price of 4.03 liras. Taxes made up 1.37 liras and 0.42 was allotted as distributor's margin.
- Turkey's tax-free price over EU average
The average tax-free cost of 95-octane unleaded gasoline was 1.82 liras in Turkey while the EU-28 average was 1.71 liras, according to the report.
Turkish fuel oil tax-free price was 2.21 liras while the EU-28 average was 1.95 liras in May, EMRA stated.
Between May 2 and 20, 95-octane unleaded gasoline saw the highest level at 4.74 liras and the lowest was seen from 21 to 31 May at 4.68 liras, the report read.
Fuel oil saw the highest price from May 12 to 25 when it reached 4.05 liras and hit the lowest of the month with 4.01 liras from May 26 to 31, the institution underlined.
By Gulsen Cagatay