The natural gas prices in Turkey were raised for industrial facilities by 50% and those for households by 35%, state-owned energy importer Petroleum Pipeline Corporation (BOTAŞ) said late Thursday, raising the prospect of further stoking inflation, expected to top 60% in March.
BOTAŞ also said natural gas prices for electricity production were going up by 44.3% as of April 1. It cited the global rise in energy prices as the reason for the hikes.
Turkey imports almost all of its energy needs, leaving it vulnerable to big price swings. Its energy costs started rising in September and surged 212% year-over-year in the first two months of 2022 to $16.8 billion (TL 246.6 billion), government data showed.
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