Fuel prices in the TRNC will be increased next week Tuesday

The fuel unit will meet on Tuesday next week and make price adjustments, said TRNC, Economy Minister.

This is coming after long queues were witnessed in fuel station across the country on Wednesday. Minister of Economy, Erhan Arıklı blamed two supplier companies for the "fuel oil crisis.

"I would understand if this was talked about beforehand, but it is not acceptable for people to attack because we stopped giving fuel in the morning, he said.

“Fuel price determination is done every 15 days. One firm in particular says that we do not wait for a no Tuesday, we need an urgent raise, we bought expensive, we cannot sell it cheaply…” Arıklı also said that the Competition Authority would make an investigation about the two firms.

“I understand the citizens are in distress, but if we submit to the fait accompli of these companies, nothing will happen, he said.” He stated that they have to think about the citizens.

Explaining that fuel prices have increased in the world and the Turkish Lira has lost value, Arıklı also stated that they hope the problem will be solved on Thursday.

"Fuel suppliers have to take a step back after the Competition Board decision," said Arıklı, adding, "I hope they do their calculations well."

Speaking further, Arıklı said:

“In order for the government to regulate the prices of fuel, which is a strategic issue, you need to open it up to full competition. There should be 4-5 competing companies in the market. If you do not prepare such an environment, and if 2 companies come together and adjust their prices accordingly, they will destroy the competition rules and blow up.”

“How much of a raise will it be?”

“We will try to make price adjustments as little as possible,” Arıklı said, “This is not something that is in our hands. Foreign exchange gains value against TL and fuel prices increase in the international stock market.  

The prices of cylinder gas have also increased and said that this issue will also be evaluated in the future.

“No electricity problem”

Claiming that there is no problem in electricity, Arıklı said, “An agreement must be signed with the company that won the tender. There is no problem,” he said.