ISTANBUL: Turkish state-owned energy importer BOTAS said late on Thursday that natural gas prices for industrial facilities has been raised by 50% and for households by 35%.

BOTAS also said natural gas prices for electricity production was raised by 44.3% as of April 1.

Turkey imports almost all of its energy needs, leaving it vulnerable to big price swings.

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Its energy costs started rising in September and surged 212% year-on-year in the first two months of 2022 to $16.8 billion, government data showed.

BOTAS’ purchases of foreign currencies from the central bank have hit record highs in recent months due to soaring energy prices.