US President Donald Trump's statements regarding the Strait of Hormuz and the growing possibility of a ground operation against Iran continue to rattle markets. Brent oil price increased above 116 USD/barrel.
The Iran war has been postponed by 1 month. The closure of the Strait of Hormuz, through which about 20 million barrels of oil and oil products pass daily and 90% of Iran's oil is transported, continues to negatively affect global markets.
With Yemen's entry into the war, the Bab al-Mandab Strait, one of the lifelines of world trade, was at risk, as was US President Donald Trump's declaration that “We have begun to take control of the Strait of Hormuz” and the possibility of increased land activity, causing oil prices to rise again.
With the latest developments, Brent oil prices have increased to over 116 USD/barrel in futures transactions.
The near-complete shutdown of Hormuz has severely disrupted global oil flows, leading to supply losses of millions of barrels per day. US allies in Asia-Pacific, including South Korea, Australia and the Philippines, are grappling with fuel shortages as some ships continue to transit under Iranian protection.
HOW MUCH OIL IS IT?
WTI oil was trading at $98.90, while the Brent oil used by Türkiye was trading at $106.90. When fuel prices last increased, Brent was at $100. For this reason, the possibility of fuel price increases is increasing.
HOW MUCH ARE GASOLINE, DIESEL AND LPG?
Gasoline is sold for 62.52 lira in Istanbul, diesel for 74.87 lira and LPG for 30.49 lira. In Ankara, gasoline is sold for 63.49 lira, diesel for 76 lira and LPG for 29.89 lira. In Izmir, gasoline is offered at 63.76 lira, diesel at 76 lira and LPG at 30.37 lira.
In the Eastern provinces, gasoline is sold for 65.11 lira, diesel for 77.72 lira and LPG for 31.67 lira.
