Latest gasoline price hike to put further strain as consumers struggle to make ends meet on a daily basis

Cash-strapped Turkish citizens are set to continue feeling the pinch of a battling economy with gasoline prices going up from midnight.

Gasoline prices will increase by 15 kuruş in Turkey. The price of gasoline is expected to reach TL 6.60, according to a news report on Sözcü daily on Monday.

The weak Turkish Lira is another factoring reason with the latest increase as the currency continues to struggle against the US dollar.

The latest increase in gasoline prices was expected due to a rise in the value of the US dollar, which saw TL 5.45 last week.

After the 15 kuruş price hike, one-liter gas will cost between TL 6.55 and TL 6.60.

Price hikes in gasoline prices are relatively changing due to rivalry in the free market conditions.

Last month, the price of gasoline increased by 27 kuruş, 100 kuruş equals 1 Turkish Lira.

High food prices, increasing fuel-oil prices, a weak currency and lack of economic growth are some of the challenges currently facing Turkey and Ankara seems to have little answers or solutions. Meanwhile, Turks continue to feel the pinch of a strained economy and failing political leadership.

Increasing gas prices add another headache for cash-strapped Turks

The post Latest gasoline price hike to put further strain as consumers struggle to make ends meet on a daily basis appeared first on IPA NEWS.

from IPA NEWS https://ipa.news/2019/03/11/latest-gasoline-price-hike-to-put-further-strain-as-consumers-struggle-to-make-ends-meet-on-a-daily-basis/