Oil Prices Slide After Ceasefire — Will Fuel Discounts Reach Pumps in Turkey?

Markets Relax After Ceasefire

After the temporary ceasefire agreement between the US and Iran, global energy markets are finally showing signs of relief. This shift is now expected to directly impact fuel prices, with a significant drop in diesel costs on the horizon.

Sharp Drop in Oil and Gas Prices

With the easing of tensions involving the US, Israel, and Iran, both oil and natural gas prices have fallen sharply. Brent crude has dropped to around $94, marking a strong pullback after recent highs driven by the conflict.

Diesel Prices Set for Major Drop

Global diesel prices have also taken a hit, with the metric ton price falling by around $300. Industry sources suggest that a substantial discount is on the way.

According to early estimates, diesel prices could drop by at least 14–15 TL. The exact figures are expected to become clear by Thursday morning, with the new prices likely to be reflected at the pump by Friday.

From Surge to Drop: A Volatile Timeline

The US–Israel–Iran conflict had pushed global energy prices sharply upward. Brent crude, which was around $60 in December 2025, climbed to $70 in February before surging to as high as $117 during the war.

Now, following the temporary ceasefire between the US and Iran, prices have dropped significantly, stabilizing in the $94–95 range.

Industry Insight: A Dramatic Shift

Industry representatives highlight just how dramatic the swings have been. Before the war, diesel’s metric ton price stood at $748. During the conflict, it surged dramatically, exceeding $1,200.

Now, with the ceasefire in place, markets are correcting quickly — and consumers are about to feel the difference.

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