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Fuel prices on January 1. Orlen lowers wholesale prices

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On Sunday, PKN Orlen again lowered wholesale fuel prices, according to the price list posted on the concern’s website. Within two days, the decline was about 13 percent. “Miracles in Orlen continue” – wrote economist Rafał Mundry in social media. From January 1, higher VAT rates on fuels returned.

On Saturday, the price of one cubic meter of unleaded 95 petrol fell to PLN 5,245 from PLN 5936 on Friday. On the other hand diesel fuel price has been lowered to PLN 6,057 from PLN 6895 on Friday. The price of gasoline unleaded 98 dropped to PLN 5,543 per cubic meter from PLN 6265 on Friday.

Rapid reductions in wholesale fuel prices. READ MORE >>>

On Sunday, the company from Płock published further changes to the wholesale price list on its website. They show that the price of one cubic meter of unleaded 95 petrol is currently PLN 5,106. Diesel costs money PLN 6,094 per cubic meter, and unleaded gasoline 98 – PLN 5,470.

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This means that in just two days, a cubic meter of “95” has become cheaper PLN 830. The price of a cubic meter of diesel oil fell by PLN 801and “98” – st PLN 795.

“Today, again, fuels in Orlen are cheaper by 14-13% in 2 days. Stock markets are closed, forex is closed, the oil market is closed. And it is cheaper and cheaper in Orlen,” economist Rafał Mundry commented on Twitter.

Higher VAT on fuel

From the beginning of 2023, VAT rates on motor fuels will increase from 8 to 23 percent. This is due to changes in the so-called anti-inflation shield, which has been operating in a truncated form since 2023.

On TVN24, an economist, an expert in communication and management of the Adam Smith, Anna Gołębicka pointed out that it is not that European Commission “She told us to return to the VAT rate” on fuels in the amount of 23 percent. – In fact, she told us, but above 5 percent. have this VAT – she clarified.

– For many months we had the so-called anti-inflation shield, which meant that VAT on fuels was not 23 percent, but 8 percent. Now, as a result of the government’s decision, (…) we are returning to VAT at 23 percent. It would seem that this is about a zloty more per liter of fuel. At the moment, Orlen is lowering wholesale fuel prices, it is de facto a similar amount, which we have increased for VAT. From the point of view of the Polish economy, it means that we transfer a little bit from one pocket to another. Previously, a state-owned company earned money, and now the tax office will simply take the amount. Thanks to the reduction of Orlen’s margin, we are able to obtain very similar prices to those we had – emphasized Gołębicka.

Urszula Cieślak, analyst at the Reflex Brokerage House she said a few days ago in an interview with TVN24that “increasing the VAT rate from 8 to 23 percent should, purely mathematically, result in an increase in the retail price by several dozen groszy per liter, both for petrol and even more so for diesel oil”. – Here, these changes could reach close to PLN 1 per liter – she enumerated. At the same time, Cieślak drew attention to the government’s announcement that higher rates would be restored VAT taxes should not be translated into retail prices at petrol stations in the form of their abrupt increase.

– I hope that the increase in fuel prices after the New Year will be small – said the Deputy Prime Minister, Minister of State Assets at the end of November Jacek Sasin. – I know that Mr. (Orlen’s) president, Daniel Obajtek, is working to ensure that this increase will not be so drastic. We will also work here together with the government – stated the head of MAP.

Earlier, Prime Minister Mateusz Morawiecki also said that the government wanted the restoration of VAT rates not to be associated with increases at petrol stations. At the same time, the head of the government stressed that retail fuel prices depended on the situation on the world market and on the exchange rate of the zloty.

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