Turkey enters New Year with a glut of price hikes

In Turkey, where real inflation exceeds 50 per cent, natural gas, electricity, fuel and bridge crossing prices have been hiked on the first day of the new year. There will be an increase of 1.29 liras for diesel, 0.61 liras for petrol and 0.78 liras for LPG (liquid petroleum gas) per liter while electricity prices will increase by between 52 percent and 130 percent for residential, industrial and commercial subscriber groups. Natural gas prices will increase by 25 percent for residential subscribers and by 50 percent for industrial subscribers. In the new year, the price of the crossing through the Eurasia Tunnel will be 53 Turkish liras, while the bridge tolls will be charged for both directions in advance, and the drivers will pay 16.5 liras.

INCREASE IN PRICE OF PETROL, DIESEL AND LPG

Price increase in fuel products is in effect from 1 January; increases of 1.29/liter in diesel, 0.61/liter in petrol and 0.78/liter in LPG has been made for the retail sales prices.

On December 17th, the price of petrol had been increased by 69 cents per liter, while the prices of diesel and liquid gas had gone up by 1 lira 14 cents and 70 cents, respectively.

52 TO 130 PER CENT HIKES IN ELECTRICITY PRICES

Electricity tariffs increased by an average of between 52% and 130%, including taxes and funds for residential, industrial and commercial subscriber groups. For the month of January, the natural gas prices have increased by 25% for the residential tariffs, by 50% for the current tariff and by 15% for electricity generation tariff for industrial subscribers.

'RETURN TOLL' FOR BRIDGES

Ministry of Transport and Infrastructure, General Directorate of Motorways has announced the new tolls for motorways, the bridges on the Bosphorus and Eurasia Tunnel with effect from 1 January 2022. According to the announcement, "Single-direction car toll on the Bosphorus bridges is 8,25 liras; whilst for the Eurasia Tunnel, the car toll was determined as 53 liras in single direction between 5 am and 12 am and 26.50 TL with a 50% discount between the hours of 12 am and 5 am."

The toll of 46 TL for the Eurasia Tunnel has been increased to 53 liras, the toll for both directions will be valid for only a single direction on the Bosphorus bridges; the toll for cars, which was 13.25 last year for both directions in total, will be 8.25 TL for a single direction in 2022, which means the drivers will have to pay a total of 16.50 TL for both directions. (EVRENSEL DAILY)