Fuel Prices Surge to Peaks Under Exchange Rate Shock and Tax Burden

Volatility in global markets and sharp movements in exchange rates continue to dictate energy costs, with recent adjustments to Special Consumption Tax (ÖTV) pushing fuel prices to new highs. This development, which directly impacts citizens' cost of living, strengthens the pressure of rising logistics and transportation expenses on macroeconomic balances.

Global Volatility and Tax Mechanisms

Pricing in energy markets is shaped by fluctuations in global risk appetite and the depreciation of the local currency, while tax regulations continue to drive pump prices higher. According to sector data, price updates made within the last 24 hours reveal the following picture:

■A historic hike of 3.76 TL was applied to the liter price of diesel.

■Gasoline saw a limited increase of 0.10 TL per liter.

■With this increase, diesel prices approached the 84 TL mark in some regions.

July 31, 2026 Tariffs: Outlook Led by Istanbul

These increases in pricing updated the current tariff list in the country's economic hubs as follows. Liter-based prices applied in major cities, starting with the European side of Istanbul, are as follows:

■Gasoline per liter price: 67.18 TL

■Diesel per liter price: 80.97 TL

■LPG per liter price: 31.19 TL

These price hikes indicate that inflationary pressures and logistics costs are becoming structural issues rather than short-term waves. For the banking sector, while conducting credit risk analysis, we must closely monitor how this level of energy inflation erodes working capital and consequently pushes non-performing loan (NPL) ratios higher. This instability in energy costs will necessitate strategies to protect net interest margins (NIM).