Oil futures fell more than 5% on Wednesday to more than 5% against one-month price lows amid growing fears that the Fed's and other central banks' interest rate-raising policies in a bid to fight record inflation will slow economic growth and it even risks provoking a recession, which in turn reduces the demand for important energy raw materials.
Ljubljana – Owners of motor vehicles are heading for Slovenian service stations en masse on Sunday as regular petrol and diesel prices are expected to rise considerably when a new pricing model kicks in on Tuesday. All three major fuels providers, Petrol, OMV and MOL, have experienced occasional shortages today.
Retail prices in Istanbul increased by 5.84 percent in May from April, the Istanbul Chamber of Commerce (İTO) said yesterday.
On an annual basis, retail prices exhibited an increase of 87.35 percent.
The rate of increase in retail prices on a monthly basis in the country's largest city, however, eased. In April, retail prices in Istanbul soared 11.36 percent from March.
Turkey's annual consumer price inflation increased from 61.1 percent in March to 69.97 percent in April, the Turkish Statistical Institute (TÜİK) has reported.
Consumer prices increased by 7.25 percent on a monthly basis in April, after increasing by 5.46 percent in March. The monthly inflation rates were 11.1 percent in January and 4.8 percent in February.
Retail prices in Istanbul increased by 11.4 percent in April from March, the Istanbul Chamber of Commerce (İTO) has said.
That came on top of the 6.29 percent rise in the retail prices in the country's largest city in April.
Food prices rose by 11.5 percent for an annual increase of 84.4 percent, while the increase in housing expenses was 10 percent, the İTO said.
Russian oil output started to decline in March and had fallen by around 7.5% by mid-April