Berova: Fuel Prices Cheaper Than in Southern Cyprus and Turkey
Finance Minister Özdemir Berova stated that despite the increase in international oil prices, the Price Stability Fund has been activated, although a 1.07 TL increase in Euro Diesel was reflected at the pump. Berova emphasized the government’s commitment to protecting the purchasing power of the public.
According to a statement from the Ministry of Finance, Minister Berova evaluated recent developments regarding fuel prices and informed the public.
Berova noted that tensions in the Middle East and the conflict between Iran and Israel have caused fluctuations in global energy markets, leading to significant rises in oil prices. He highlighted that the country meets the majority of its energy needs through imported oil and derivatives, and these global price hikes have impacted local fuel prices as well.
“The government is working diligently with the Price Stability Fund to maintain economic balance and ensure energy supply security,” Berova said, emphasizing the government’s priority to protect people’s welfare and sustain economic stability.
He added that between June 18 and June 25, fuel prices saw an increase of 3.27 TL for gasoline and 6.35 TL for Euro Diesel.
The government used the Price Stability Fund within legal limits to prevent these increases from fully reaching consumers. However, due to insufficient fund support against the 6.35 TL rise in Euro Diesel, a 1.07 TL increase was reflected at the pump.
Berova noted criticism faced by the government on social media and from some groups, but stressed that over the past three years, the Price Stability Fund has been optimally used to balance market fluctuations. The government continues to work carefully to preserve economic stability and energy supply security.
He compared prices, stating that during this period, Turkey saw increases of about 3 TL for gasoline and 5.5 TL for Euro Diesel. Currently, gasoline is sold at 39.12 TL per litre locally, 49.55 TL in Turkey, and 59.80 TL in Southern Cyprus. Euro Diesel is priced at 38.80 TL locally, 49.89 TL in Turkey, and 61.60 TL in Southern Cyprus.
Berova reiterated the government’s determination to protect purchasing power amid economic difficulties, using all financial tools including the Price Stability Fund to shield citizens. “Our priority is to keep the daily living costs of every citizen at reasonable levels,” he concluded.
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