The price hike will apply to households and businesses and is valid from July 1, the regulator decided in a meeting on Thursday.
Turkey’s government is increasing the prices of various commodities following the conclusion of local elections.
The ruling AKP lost the mayoral seat for Istanbul in a rerun of an election in March on Sunday.
Earlier this week, state regulators raised the price of tea and sugar by 15 percent and 16 percent, respectively.
A similar price rise for natural gas is also in the pipeline, the website said. State pipeline company BOTAŞ is required to set a new price for natural gas by the end of the month, it said.