New record for gasoline prices in Turkey; 24 lira per liter

According to Fars News Agency’s International Group, media sources reported an unprecedented increase in fuel prices in Turkey in recent days.

According to the news agency «شینهواIn recent days, Turkish citizens have been affected by the third round of fuel price increases in just one week. According to local Turkish media, the price of each liter of gasoline throughout the country increased by 2.18 lira (about US $ 0.12) and reached nearly 28.5 lira (69,000 tomans) per liter, which indicates an increase of approximately Fuel prices are 268 percent compared to last year.

Meanwhile, the Turkish lira is on track to reach its lowest level in late December last year, with the dollar trading at 17.12 Turkish lira in recent days (Saturday). The sharp decline in the currency is accompanied by rising inflation, which reached its highest level in 24 years in May.

Website «Fuel NetHe also wrote on Tuesday night, Tehran time, that the price of unleaded gasoline in Turkey on Tuesday was 24.88 lira (60 thousand five hundred and thirty-three tomans).

Turkish President Recep Tayyip Erdogan said earlier this week that Turkey would cut interest rates further as a way to increase production and exports.

The Turkish Statistical Institute recently announced that Turkey’s unemployment rate had risen to 11.3 percent in April from March. Data from the Twick Institute show that the number of unemployed increased by 65,000 to 3.85 million. The unemployment rate in April was 9.7 percent for men and 14.5 percent for women.

According to the institute, the unemployment rate among 15- to 24-year-olds has dropped from 20.8 percent to 20 percent.

“The erroneous policies of Turkish President Recep Tayyip Erdogan have led to a rise in inflation to more than 70 percent,” said Julia Hahn, an economist who recently spoke about rising inflation in Turkey.

In a recent statement, the President of Turkey called the forthcoming general elections in 2023 crucial for the fate of this country. In a meeting with leaders of regional party branches in Ankara, Erdogan announced the priorities of the ruling Justice and Development Party.

“The 2023 elections are not important for Erdogan and the AKP, they are important for Turkey,” Erdogan said. “It depends on the voters’ choice whether Turkey enters the top 10 developed countries in the world or not.”

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