Turkish state-run pipeline company BOTAŞ increased natural gas prices for industry by 48 percent.
The company also raised the price of gas used in energy production by 46 percent.
The cost of natural gas for households remained unchanged.
Given the price increases in September, the natural gas price increase reaches 80%.
Price hikes in Turkey follows TL’s new round of weakness since September and the global spike in energy prices. Turkish lira lost more than 20% of its value this year.
BOTAŞ sets natural gas prices monthly.
The increase in the cost of natural gas is to pressure producer price inflation in Turkey, that is at 44% as of September. Pass through to consumer price inflation at 19.6% appears inevitable given the sharp rise in the production costs for an almost across the board production of goods.