Fuel prices in Northern Cyprus will rise tonight

F u e l p r i c e s i n N o r t h e r n C y p r u s w i l l r i s e t o n i g h t

Fuel prices in Northern Cyprus will rise tonight, 95 octanes unleaded gasoline will rise from 13.70 Turkish lira to 14.73 Turkish lira, 98 octanes unleaded gasoline will rise from 13.94 Turkish lira to 14.97 Turkish lira, Euro diesel from 12.55 Turkish lira to 13.58 Turkish lira and Kerosene 13.36 Turkish Liras.
Fuel pricing is regulated in accordance with the regulations on pricing International petroleum products. According to the current regulation, the pricing of new fuels is determined within 15 days based on the dollar price and the prices of foreign fuel sold in the world.
But, due to the sudden increase in the foreign exchange rate in December, a temporary article was added to the law with the stipulation that pricing should take place between 5 and 15 business days.
It is noteworthy that the price of a barrel of oil is currently sold in world markets at more than 107 US dollars due to the Russian-Ukrainian war.

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