ISTANBUL, June 19 (Xinhua) -- Türkiye raised gasoline and diesel prices on Thursday, as rising geopolitical tensions between Iran and Israel continue to drive up global oil prices and ripple through domestic markets.
According to Petrol Ofisi, Türkiye's leading fuel and lubricant distributor, the price of gasoline has reached 49.99 Turkish liras (approximately 1.26 U.S. dollars) per liter, while diesel climbed to 51.39 liras (around 1.30 dollars).
Over the past week, gasoline prices in Türkiye have risen by more than three Turkish lira -- a 6.55 percent increase, while diesel prices have climbed by five lira, an 11.16 percent rise.
The price surge underscores the impact of regional instability on oil-importing economies, said Necdet Pamir, an expert on energy policies.
Consumers in Türkiye would face mounting costs in almost every item, including the natural gas import from Iran, as all are dependent on global oil prices, he told Xinhua.
Brent crude oil -- one of the paramount pricing standards in the global petroleum market -- was trading at around 66 dollars per barrel before the hostilities, but climbed to more than 76 dollars on Thursday. ■
