Oil prices have stopped rising, but the price correction in the wholesale fuel market is unlikely to take place, analysts estimate. According to them, there is at best a chance of stopping further price increases at gas stations.
According to the e-petrol.pl portal, the vision of rate hikes next week is very realistic. As indicated by the Reflex Brokerage House, crude oil prices have stopped rising, which may protect against a further rise in prices at stations, however, there will be no major downward correction in the wholesale market due to the zloty weakening against the dollar. On Friday, the rate exceeded PLN 4.05 per dollar.
Fuel prices – analysts’ forecasts
The e-petrol.pl portal expects that next week the average price of 95 petrol at stations will be in the range of PLN 5.99-6.14 per liter. A liter of diesel oil is to cost PLN 5.99-6.16 on average, and of autogas – PLN 3.23-3.31.
Brent crude oil was at $ 82.8 on Friday. a barrel – about $ 2 less than at the beginning of the month.
BM Reflex reminds that in its latest report, OPEC has revised its demand forecast by 160 thousand. barrels a day. The downward revision is mainly due to slower than expected demand in China and India in Q3.
However, in 2022, OPEC still expects world oil demand to increase by 4.2 million barrels per day compared to 2021, and next year average world oil demand will exceed pre-COVID-19 levels.
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