Turkey’s BOTAS says hikes natural gas prices for residential, industrial use

Turkey’s natural gas distributor BOTAS said on Thursday it had raised natural gas prices for residential use by 12 percent, for industrial use by 20 percent and for electricity production by 20.2 percent.

The move comes shortly after the EPDK energy regulator said it would hike consumer electricity prices by 15 percent as of Thursday in response to rising costs.

The increases could put upward pressure on inflation, which stood at 16.59 percent in May and is expected to rise to 17 percent in June.