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Tuesday, December 5, 2023

Fuel prices are scary. There has been no such increase for over a year, new forecasts by e-petrol and BM Reflex

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Stations in Poland are becoming more and more expensive. “Retail fuel prices at the turn of October and November were more terrifying than the most elaborate pranks played during Halloween,” wrote analysts of the e-petrol.pl website. Experts expect further increases at gas stations following rising wholesale prices. On Friday, prices in Orlen and Aramco Poland went up again.

BM Reflex reported that currently at stations, a liter of unleaded 95 petrol costs on average PLN 6.51 (an increase of 23 groszy per liter during the week), unleaded 98 petrol – PLN 7.07 (an increase of 20 groszy), diesel oil – 6 PLN .56 (an increase of PLN 23), autogas PLN 3.09 (an increase of PLN 1).

“Retail fuel prices at the turn of October and November were more terrifying than the most elaborate pranks played during Halloween. We haven’t seen such a large increase at gas stations as the one recorded last week for over a year,” analysts from the industry portal e-petrol said in a Friday comment. .pl.

According to BM Reflex data over the last month gasoline prices 95 increased by 47 cents per liter, and diesel by 48 cents per liter. Autogas prices increased by 13 groszy per liter, to PLN 3.09/l.

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Average retail fuel prices (as of November 2, 2023)BM Reflex

Wholesale prices continue to rise

Refleks analysts pointed out that “on the domestic wholesale market, increases in gasoline prices are slowly slowing down, but there is still room for wholesale price increases.”

On Friday, further increases in Orlen’s price list were introduced. One thousand liters of unleaded 95 gasoline wholesale costs PLN 5,217. This is the highest level since September 6 this year, when the price was PLN 5,230. Since the parliamentary elections, the wholesale price of unleaded 95 petrol has increased by PLN 463, which means an increase of 46 groszy per liter.

Wholesale prices of diesel oil also increased. Ekodiesel diesel oil increased in price to PLN 5,279 per thousand liters. This is the highest level since April 15 this year, when this species cost PLN 5,338. This means an increase of PLN 521 since the elections (an increase of approximately 52 groszy per liter).

On Friday, wholesale fuel prices at Aramco Poland also went up. According to this price list, one thousand liters of unleaded 95 petrol costs PLN 5,217 and Eurodiesel diesel oil – PLN 5,354.

Drivers will pay more at stations

“As expected by e-petrol.pl, domestic fuel prices are catching up with the base markets, and drivers are not helped by the ongoing tension in the Middle East. As a result, we have seen increases at gas stations almost every day in recent days and everything indicates that that we will have to wait for the end of this black series,” e-petrol.pl analysts predict.

“The strong upward movement observed in recent days will not end the cycle of price increases at gas stations. We expect further increases next week,” they added.

Refleks analysts also expect further increases in fuel prices at stations. “Petrol prices may rise to an average level of PLN 6.60 next week, and diesel prices to PLN 6.75/l,” experts predict.

About rising fuel prices Jan Szewczak said during Tuesday’s press conference, member of the Orlen management board for financial matters. The company’s representative paid attention primarily to events in the Middle East.

– These are trade routes, these are the routes along which tankers and crude oil flow, these are the areas around Saudi Arabia, a large exporter of crude oil. These are also the influences of recessionary phenomena in the global and European economy. All this needs to be monitored on an ongoing basis. So don’t believe in these various stories, fairy tales made of moss and ferns, about how much fuel will cost there – said Szewczak.

Main photo source: DarSzach/Shutterstock

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