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Last minute: the price of oil has dropped heavily! Good and bad news on gasoline prices – The right address for financial news

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Last minute: Oil prices, which are key to fuel prices, fell sharply this week, while US crude fell 5% this week. On the last trading day of the week, a horizontal price of US crude and Brent was observed. While US crude was trading above $ 104, Brent oil was close to $ 110.

EXTRAORDINARY ANALYSIS OF PETROL PRICES: GOOD AND BAD NEWS

In a report from the US media organization CNN International, it was claimed that there was good and bad news on the gasoline price front. The good news, experts say: some cuts in gasoline prices may be on the way.

The bad news is: traders are betting on a recession.

Put simply, there are two ways to lower prices: increase supply or decrease demand. The first is expensive and complex. Second, it happens when consumers begin to withdraw as prices get too high and individual budgets are strained.

This is exactly what consumers are doing at a time when inflation is at the highest levels of the past four decades and fuel prices are climbing over $ 5 per gallon.

While this could mean relief at the fuel pump, it could also indicate a different kind of economic problem on the horizon.

Peter Boockvar, chief investment officer of Bleakley Advisory Group, said: “The market movements this morning are all fearful of a recession. The probability of a recession this year is 99% because nothing is 100% probable. %. She said.

DISCOUNT OF 25 CUR ON PETROL

The price per liter of gasoline has been reduced by 25 cents, effective from 23 June. After the discount, the price of gasoline became 27.26 TL.

No change in the prices of diesel, autogas or petrol is expected today.

CURRENT FUEL PRICES (FRIDAY 24 JUNE)

According to the current prices of the fuel pump;

In Istanbul, the price per liter of diesel is sold for 29.99 lire.

A liter of petrol is sold on average at 27.26 lire.

ASSUMED FUEL WILL BE ’40 TL ‘

After the latest price increases, fuel prices have reached 30 lire, while the rate of increase over the last 7 months has been 225 per cent for the price of petrol per liter and 264 per cent for the price of diesel per liter. liter. While the subsequent hikes have provoked citizen revolt, a glaring claim was made by CHP Vice President Ahmet Akın regarding diesel prices. Akın said the reason for the increase in fuel prices was the government’s economic policy and said the price of diesel could exceed 40 pounds in August.

PETROL AND ENGINE RECOMMENDATION FROM CHP! ‘6 ECONOMIC LIRA …’

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CHP Deputy Hatay Mehmet Güzelmansur said that if the state clears the SCT on fuel and reduces the VAT to 1%, gasoline and diesel prices will drop by about 6 lire. Claiming that rising fuel prices raised the price of everything from needle to thread, Güzelmansur said, “Many countries, particularly Germany, have abolished the fuel tax to relieve their people. government waives taxes for the people, the farmer will return to his field. Taxi drivers, dolmuş drivers, soldiers and shopkeepers will be saved, “he said.

“COMFORTABLE LEVEL”

Speaking recently to the AK Party group, President Recep Tayyip Erdogan, in his statement on fuel prices, said that the hikes affect not only Turkey but the whole world and said: “The pump price figures are at a a really worrying level. a country that satisfies the vast majority of its oil consumption with imports. We are immediately affected by both the rise in crude oil prices and the rise in the exchange rate, “he said.

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