Further Price Hikes To Fuel Expected Tonight – UPDATE

North Cyprus News - Petrol pumpA further hike in the price of fuel is expected tonight because the Price Stabilisation Fund is almost depleted, Kibris Postasi reported.

The fund, which is almost exhausted because of  both political decisions and unplanned reverses to the economy, cannot meet the four percent increase in the oil market.

Should the Council of Ministers decide to increase fuel prices yet again, it will be for the fourth time in the past two months. 

If the fund’s resources are not touched, it is expected that 95 octane fuel will rise to 7.20 TL/litre; Euro Diesel is expected to rise over 6.80 TL.

The Council of Ministers has increased fuel prices on May 7, May 28 and June 21.

With the last hike in June, the prices were as follows:

 95 Octane: 6.96 TL

98 Octane: 7.09 TL


Paraffin: 6.37 TL

UPDATE: As anticipated, following a meeting of the Council of Ministers, another price increase to fuel was announced, Kibris Postasi reported. The decision came into effect as of midnight last night.

The new prices are as follows:

98 Octane unleaded petrol 7.60

95 Octane unleaded petrol: 7.45

Euro diesel: 6.91

Paraffin: 6.67

There were three price hikes to fuel on May 7, May 28 and June 21.

Kibris Postasi


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