Diesel prices in Türkiye reached a record high of just under $2 per liter Tuesday, as the war in the Middle East tightens fuel supplies and Ukrainian strikes target Russian refineries.
Currency volatility and increases in the special consumption tax are also putting pressure on fuel prices.
The latest TL 6.5 hike Tuesday pushed diesel prices above TL 95 per liter ($1.87) in Istanbul. Prices reached as high as TL 96.75 in the capital Ankara and TL 97.02 in Türkiye's third-largest city, Izmir.
Diesel had been selling for around TL 54.40 per liter in September 2025, meaning prices have risen by approximately 76% over the past year.
Prices are now almost 60% higher than they were before the U.S. and Israel attacked Iran in late February, when they stood at around TL 60.30 per liter.
Prices at the pump for diesel and regular gasoline closely follow those of crude oil. And oil has renewed its rise recently.
Last week, both Brent, the international standard, and U.S. crude surpassed $100 a barrel for the first time in months as fighting between the U.S. and Iran escalated again.
Brent crude futures were up 6 cents at $105.74 a barrel at 1301 GMT Tuesday after hitting a session high of $108.43. U.S. West Texas Intermediate futures were up 27 cents at $101.66 a barrel after rising as far as $104.21 earlier.
Türkiye had removed a special consumption tax on diesel until the end of August and reinstated it this month. The tax will rise incrementally by TL 3 each month until it reaches about TL 13.1 per litre on Jan. 1, the same level as before the removal.
Authorities last month also removed diesel from Türkiye's sliding-scale tax adjustment system, implemented to limit the impact of rising oil prices and inflation on consumers.
Gasoline and liquefied petroleum gas (LPG) will remain in the system until Oct. 1, when the system is set to be abolished.
Media reports, citing industry sources, said diesel prices could rise by a further TL 2.5 to TL 3 per liter as soon as Wednesday unless additional measures are taken.
The expected increase would push at least one fuel product above the TL 100 threshold for the first time.
Diesel prices are expected to exceed TL 100 in 45 provinces following the potential increase, while prices in major cities such as Istanbul, Ankara and Izmir could approach TL 98 per liter.
Higher diesel prices mean more expensive transportation for a long list of everyday goods. That's because diesel is used for many freight and delivery networks, which could see businesses pass along steeper costs to consumers.
