Fear for fuel price hike grips Türkiye amid mounting tensions in Strait of Hormuz

Long queues formed at fuel stations across northwestern Türkiye's Kirklareli province late Tuesday, as drivers rushed to fill their tanks amid rumors of a sharp diesel price hike triggered by growing tensions in the strategic Strait of Hormuz.

Delivery driver Ahmet Kus stood in the long line, surrounded by the hum of idling engines and worried conversations.

"Even the rumor of a hike is enough for people to rush here," Kus told Xinhua. "Each trip costs a little more than the last."

By Wednesday morning, that rumored increase -- more than 10 percent -- had been called off at the last minute, after the government stepped in to absorb some of the fuel cost. But the relief was temporary. The real source of the anxiety has not gone away.

The Strait of Hormuz has been a knot in the throat of global energy markets. Through this narrow passage flows roughly 20 million barrels of oil daily. Now, with tensions rising in the region, that artery has been effectively shut down. Brent crude oil, the international benchmark, hovered around 83.85 U.S. dollars per barrel early Wednesday, a nervous pulse in a system waiting for the next shock.

For energy-import dependent Türkiye, the ripple effects are immediate. Inflation, already a fragile beast, rose to 31.53 percent in February, nudging upward from January's 30.65 percent. Core inflation, which strips out volatile items like food and energy, stood at 29.46 percent.

Murat Tufan, an Istanbul-based economic analyst, traced the fault line back to its source. "The Strait of Hormuz is a critical passage for oil from multiple producing countries, and any disruption there can quickly ripple through Türkiye's energy market," Tufan said.

When energy costs rise, he explained, they do not stay in the tank. They travel -- into factories, logistics, the price of bread, and the cost of a bus ticket.

Baris Doster, an academic on international relations at Marmara University, placed the crisis in a wider frame. "Conflicts, diplomatic tensions, or even threats to critical chokepoints like the Strait of Hormuz immediately push prices higher, affecting households and businesses worldwide," he said.

Adding to the tension, industry sources told Ekonomim, an online economy news portal, that a new diesel price hike was already scheduled, this time for midnight on Thursday. Diesel would climb by 12.45 Turkish liras (about 0.28 dollars) per liter, pushing it above 72 liras (1.63 dollars), for the first time in history. Gasoline would follow, rising by 3.68 liras (0.08 dollars).

For drivers like Kus, the news is not yet official, but it was already felt. Behind him, the line of vehicles still stretched into the dark, each one carrying the weight of an economy that moves on fuel, and of a world that cannot stop watching the strait.