TRNC to increase fuel price by 1TL

The TRNC Minister of Economy and Energy, Olgun Amcaoğlu, has announced a 1 TL increase in the price of fuel in the country.

Olgun Amcaoğlu in a statement to the Turkish Agency Cyprus (TAK) on Thursday, said the increase was necessary now or it will be increased by 2TL on Monday. He said the Ministry prepared a decree to increase fuel prices and sent it to the Ministry of Finance.

The Minister stated that they sent the decree envisaging an increase in fuel prices to be effective as of midnight tonight to the Ministry of Finance and that the Ministry of Finance will prepare a proposal and send it to the Council of Ministers. 

Amcaoğlu explained that if the Prime Minister finds it appropriate, price adjustments will be made. 

He stated that there was an increase of around 1 TL in fuel prices in the prepared decree. “If there is no increase of around 1 TL today, we will have to make 2 TL on Monday, he said.  

We are trying to prevent this,” he said, noting that while there was an 8 percent increase in Brent oil prices on the one hand, the Dollar also increased.

This is coming after 4 consecutive reduction in fuel prices with the last announced on Friday, last week.

The new prices are as follows;

-Unleaded 95 Octane 22.26 TL, 

-98 Octane  22.57 TL, 

-Euro Diesel 25.47 TL, 

-Kerosene 25.00 TL.