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The only way is up for petrol prices in TRNC

21 September 2013

Petrol prices have been rising in Turkey all year due to the weakening Turkish lira and oil price increases.

However, since mid-September this trend has reversed following the easing of tensions in Syria. Consequently petrol prices in Turkey have fallen over the past week.

Strangely though, prices in the TRNC which followed the Turkish prices up have not followed them down.

During its last period in government, the UBP party linked petrol prices in the TRNC to automatically follow petrol prices in Turkey. This move saved them from the likelihood of criticism following any announcement of price increases.

However this system only seems to work in one direction -when prices go up.

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