The successive declines in gasoline and diesel prices, which broke record after record, made motorists smile a little. But the news is bad. After the rise in Brent oil, a further rise in fuel was expected.

Brent oil, which rose to $140 with the Russian-Ukrainian war, has fallen below $100 in recent days. After this development, the price of a liter of gasoline in Turkey had reached the level of 23 liras.

Brent oil is up for two days after a 10-day decline. US Crude Oil saw just over $100 in early trades mid-week after an 8% premium recorded in 3 days. In Brent oil, early trades rose above $107. On the oil markets, US stocks and the dollar rate are followed. In Turkey, on the other hand, the constant rise of the dollar makes it ineffective to anticipate a drop in fuel prices. Despite all the interventions of the Central Bank, the dollar rose to 17.55 TL. After Eid al-Adha, only 95 cents discount was available on gasoline. Motorine, on the other hand, has not had a discount for 2 weeks. On the other hand, according to estimates by the American Petroleum Institute, which wants to balance the internal market, crude oil stocks in the USA increased by 2 million barrels last week. After this move, it is estimated that there is an increase in fuel stocks.

The momentum seen in the commodity market with the easing of the dollar, which reached record highs last week, also had an impact on oil prices. Investors closely follow the evolution of the dollar in terms of impact on prices. ING Commodities chief strategist Warren Patterson said the oil market is looking for balance amid significant uncertainty on the supply and demand side.

The price of oil continues to fall

Brent oil prices continue to fluctuate. Brent oil, which fell to $98 last week, is trading above $100 this week. On the international market, Brent oil is sold at 106.97 dollars.

Current fuel prices as of Wednesday July 20, 2022:

ISTANBUL
Price per liter of diesel 25.40 TL
The price per liter of gasoline is 22.70 TL
Price per liter of LPG 10.52 TL

ANKARA
Price per liter of diesel 25.49 TL
Price per liter of gasoline 22.82 TL
Price per liter of LPG 10.84 TL

IZMIR
Price per liter of diesel 25.50 TL
Price per liter of gasoline 22.82 TL
Price per liter of LPG 10.64 TL

Diesel prices had returned by 30 TL.

The price of diesel, which rose to 30 TL, was reduced by 5.44 TL in two weeks. Diesel, which fell below 25 liras, rebounded to over 25 liras with the latest rise of 84 kuruş.

Lost 6 lira in a month

Gasoline prices returned to their May levels with the latest rebate. On June 11, the liter of gasoline reached a record high of 28.50 lira. After the last discount, in just over a month, prices have fallen by almost 6 lira. Since the last days of June, petrol prices have fallen by around 13%, diesel prices by 15% and LPG prices by 12%.

The price of oil continues to fall

The new week for the oil market started with an upward trend. As US Crude Oil traded above $101, Brent Oil also broke above the $105 level. US crude oil fell 7% last week.

The weakening of the dollar index and concerns about shrinking supply have been effective in driving up prices.

The dollar index, which hit a 20-year high of 109.3 after inflation data last week, started the new week at 107.9.

#Gasoline #diesel #prices #rise

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