Turkey ups natural gas prices, citizens suffer

The Turkish government has introduced its latest round of increase in the price of natural gas, a 14.97 percent rise for residences and 13.73 percent for industrial sites.

Turkey’s Petroleum Pipeline Corporation (BOTAS) revealed in a statement that the new changes went into effect on August 1.

BOTAS hiked the gas prices by 9 percent for residences and 14 percent for industrial sites in August and September of 2018, then applied the third increase in October last year – 9 percent for residences and 18.5 percent for industrial sites.

The Turkish government changed the prices of gas sold to stations in June by 6.5 percent. It announced that the hike won’t cover consumers in homes, factories, and commercial units.

Last week, Turkey’s Chamber of Electrical Engineers (EMO) announced that energy prices have increased by more than 300 percent in the last 17 years.

Experts believe the coming period will likely witness new increases in prices of various products whether in the public or private sectors due to the rise in production costs and the continued growth of the budget deficit.