Lower gasoline, discount on gasoline and diesel

Oil prices fell yesterday amid uncertainty about the effects of the maximum price Western states will impose on Russian oil. Although oil prices rose slightly today on expectations of a recovery in demand in China, the markets continued to be under pressure after yesterday’s sharp drop.

On the other hand, the intense influx of macroeconomic data around the world created uncertainty about global oil demand and continued to push prices down. Thus, oil, which yesterday fell below 80 dollars, registered its lowest level since January 7.

The recent drop in the oil market has also affected gasoline and diesel prices. According to the information provided by sources in the fuel sector, it was learned that tonight a discount of 2.15 liras will be applied to gasoline and 1.90 to diesel.

The price of the nearest barrel of Brent crude oil fell 0.4 percent to below $80 yesterday. Brent crude oil traded today at $79.4 a barrel. US light crude also traded at $74.54.

RUSSIA PREPARES TO RESPOND

The oil market has been closely watching the price ceiling tension between Russia and Western countries recently. As Western countries try to impose a price ceiling on oil sold by Russia, one of the world’s leading oil producers, Russia is preparing to respond to this move.

According to the news reported yesterday by Bloomberg, it was claimed that Russia plans to set a floor price for international oil sales in response to the upper limit set by the G7 countries.

In the news, it was reported that the Moscow administration is considering applying a fixed price to the country’s barrels or stipulating maximum discounts in international benchmarks where they can be sold.

The G7 ceiling on Russia’s seaborne oil came into effect on Monday as Western states tried to limit Moscow’s ability to finance its war in Ukraine, but Russia said it would not comply even if it had to reduce the production.