6 C
Tuesday, December 5, 2023

Orlen. Wholesale fuel prices continue to rise – Rafał Mundry and Daniel Kostecki comment

Must read

- Advertisement -

Wholesale fuel prices in Orlen continue to rise. Further changes to the price list came into force on Tuesday. “Are these more miracles at Orlen? No. This is the end of miracles,” wrote economist Rafał Mundry on social media. Daniel Kostecki, chief market analyst at CMC Markets Polska, drew attention to the pre-election statements of the president of the Płock concern, Daniel Obajtek, who assured that there was no reason for fuel prices at stations to increase in the coming weeks.

Analysts of the industry portal e-petrol.pl pointed out in their Friday commentary that “it is becoming increasingly difficult to find stations where you can refuel for less than PLN 6 per liter.” Representatives of the Reflex brokerage office pointed out that rising wholesale fuel prices contribute to this. Therefore, experts pointed out that drivers must expect an increase in retail prices, i.e. at gas stations.

Wholesale fuel prices are rising

On Tuesday, further increases were introduced in Orlen’s price list. On Tuesday, the price of unleaded 95 gasoline increased by PLN 67 to PLN 4,929 per cubic meter. This is the highest level since September 13 this year, when a cubic meter cost PLN 4,966. Since the parliamentary elections gasoline price unleaded 95 in wholesale went up by PLN 175.

- Advertisement -

“Today +7 groszy per liter. Even though the zloty has clearly strengthened in the last 3 days and oil in the zloty has recently become cheaper by about 4 percent.” – noted economist Rafał Mundry in an entry on X (formerly Twitter). “Are these more miracles on Orlen? No. This is the end of miracles,” Mundry added.

Daniel Kostecki, chief market analyst at CMC Markets Polska, wrote about the acceleration of wholesale price increases. “PLN 5 wholesale for #Pb95 is almost here… nice acceleration of price increases, and not even 10 days have passed since ‘day zero’ (parliamentary elections – ed.). Why were we lied to by the president of the largest company and the Minister? Do they really think that we are idiots?” – asked the analyst.

In recent days, wholesale prices of diesel oil have also increased. Ekodiesel diesel oil cost PLN 4,758 per cubic meter just before the parliamentary elections, and on Tuesday its price increased to PLN 4,904. This means an increase of PLN 146 since the elections. On Tuesday, the price of diesel oil increased by PLN 64.

As in the case of 95 petrol, this is the highest level since September 13, when wholesale diesel oil cost PLN 4,929/m3.

Daniel Obajtek on fuel prices

President of Orlen Daniel Obajtek on Friday, October 13, just before the parliamentary elections, he assured that there is no reason for fuel prices at stations to increase in the following weeks.

As the company informed, the concern’s policy assumes price stabilization and securing fuel supplies for wholesale and retail customers. – We implement our policy in this area effectively thanks to the fact that we have diversified oil supplies and signed long-term contracts, and thanks to mergers with Lotos, Energa and PGNiG we also have greater negotiation opportunities and are much more resistant to market turmoil – noted Obajtek in an interview with the Polish Press Agency.

– Therefore, taking into account the current market situation – excluding unforeseen fluctuations or events on the market – there is no reason for fuel prices at stations to increase in the coming weeks – added the president of Orlen. He also said that “there should be no significant increases,” among others. on Radio Plus, Minister of Development and Technology Waldemar Buda.

We asked Orlen about the reasons for the recent changes in the price list. Until the article was published, we had not received a response from the company.

However, last week the company from Płock referred to posts regarding the increase in wholesale fuel prices on social media. “Wholesale prices of gasoline and diesel oil increased by approximately PLN 2 per liter. This is a difference that does not translate into retail prices for our customers,” wrote Orlen’s press office.

What influences wholesale fuel prices?

As we read on Orlen’s website, the level of wholesale fuel prices is influenced primarily by taxes and fees imposed on fuels, i.e. excise duty, fuel fee and VAT, as well as the reserve fee, the price of crude oil and finished products on global stock exchanges, dollar’s exchange rate and domestic market conditions shaped by competition.

Brent crude oil is currently cheaper than a month ago by about 2.5%.

Brent crude oil prices last monthstooq.pl

On Tuesday afternoon, the price for an American dollar was nearly PLN 4.21. This is 14 cents less than a month ago.

Source link

More articles

- Advertisement -

Latest article