Northern Cyprus to ‘feel impact’ of global oil price war
By Salman Siddiqui Consumers in the TRNC might see oil and gas prices eventually go down this year as the global oil price war between Russia and Saudi Arabia intensified over the week. Oil and gas prices in the country have remained quite stable over the year. On Wednesday, the websites of the oil and gas companies – Kıbrıs Türk Petrolleri Limited and Alpet Kıbrıs – maintained the prices of gas at 4.9TL/litre, diesel 4.96TL/litre and high-octane oil 5.36TL/litre. In 2019, the gas price was 4.9TL per litre while diesel was 4.96TL per litre, according to ALPET. A leading global energy expert told the Cyprus Today that the impact of the global oil price war will be felt on small island nations like the TRNC gradually, not immediately. Last Monday, international crude oil prices had made a steep fall, dropping over 30 percent, when Saudi Arabia decided to slash its oil prices in response to what analysts believe was Russia’s fall out with members of the Organiza...