Turkey sees 3rd fuel hike in a week amid currency depreciation

STORY: Turkey sees 3rd fuel hike in a week amid currency depreciation DATELINE: June 12, 2022 LENGTH: 00:01:04 LOCATION: ISTANBUL, Turkey CATEGORY: ECONOMY SHOTLIST: 1. various of gas station in Istanbul, Turkey 2. various of cars driving on the highway in Istanbul, Turkey 3. various of exchange office in Istanbul, Turkey 4. various of Turkey's central bank STORYLINE: Turkish consumers on Saturday was struck by the third round of fuel price hike in a week, as a volatile Turkish currency took its toll on the economy, which relies largely on imports. The per liter gasoline price rose by 2.18 liras (about 0.12 U.S. dollars) to nearly 28.5 liras across the country, Birgun daily reported, reflecting an almost 268 percent increase in fuel prices compared with a year ago. The Turkish lira meanwhile is on the way to reaching an all-time low it set in late December last year, with one dollar traded at 17.12 Turkish liras on Saturday. The currency's dramatic decline comes together with ever-increasing inflat