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Thursday, February 29, 2024

In a year, fuel prices have increased by half

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The increases in gasoline prices slowed down, and the increases in diesel prices gained pace – noted BM Reflex analysts in their weekly comment. As they added, fuels are now about 50 percent more expensive than a year ago.

“The amount of the increases fuel prices at the stations, similarly to the last time, is clearly differentiated and this week they mainly concern diesel. As far as average gasoline price increased by approx. 8-9 groszy per liter, drivers pay an average of 27 groszy more for a liter of diesel. However, a comparison to end-May prices shows that Pb95 gasoline and diesel prices changed similarly. The price of gasoline increased by PLN 0.11 / l in total, and diesel by PLN 0.18 / l, “BM Reflex analysts wrote.

According to their data, the current fuel prices are at an average level: 95 lead-free petrol – PLN 7.97 / l, 98 lead-free petrol costs PLN 8.54 / l, diesel fuel PLN 7.66 / l, and autogas PLN 3.59 / l .

“We still do not record any increases in autogas prices, which maintains a very favorable relation to the prices of EU95 petrol” – they noted.

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BM Reflex analysts emphasized that on a year-to-year basis, fuel at stations is from 47 to 56 percent. more expensive. For Pb95 petrol we pay 2.21 PLN / l more, for Pb98 nearly 3 PLN / l, diesel 2.46 PLN / l and autogas 1.28 PLN / l.

According to BM Reflex analysts, fuel prices at stations should not rise sharply before the upcoming long weekend.

Increases, but on a smaller scale than recently

The e-petrol portal predicts fuel price increases, but on a smaller scale than recently. Analysts forecast next week the average price of EU95 petrol in the range of PLN 7.92-8.05 per liter, PLN 7.56-7.70 per liter for diesel and PLN 3.49-3.60 per liter of autogas.

The nearest future on the fuel market looks dark, as the price of crude oil remains above $ 120. for a barrel – underlines e-petrol.pl.

Oil prices

BM Reflex reminds that the US Energy Information Agency EIA forecasts averages Brent crude oil prices in the second half of the year at $ 108. a barrel, and $ 93. per barrel in 2023, with increased uncertainty. The EIA emphasizes that the possible introduction of restrictions on the insurance of the shipping of Russian crude oil, or future sanctions, may lead to a greater decline in production and exports of Russian crude oil, creating the risk of further price increases.

In turn, e-petrol.pl reminds that the information strongly affecting the crude oil market is the possibility of restoring pandemic restrictions in part Chinawhich could have a rapid impact on oil prices.

The portal also notes that the World Bank has revised its forecasts for Brent crude oil prices upwards, mainly due to sanctions imposed on Russian oil. The bank expects a drop in prices in the next year, along with an increase in the production of this raw material, among others in USA – underlines e-petrol.pl.

Main photo source: Shutterstock

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