The slowdown in the growth of wholesale crude oil prices will lead to the stabilization of fuel prices – believes Biuro Maklerskie Reflex. In turn, according to e-petrol analysts, in the second week of November at gas stations, drivers can expect new – higher price lists.
Oil prices and fuel prices
According to BM Reflex, the second consecutive week of decline in crude oil prices in the world markets and the slowdown in wholesale price increases allow us to look into the future with slight optimism. “At least the first half of November should bring fuel prices stabilization,” the bureau analysts indicate.
On the other hand, e-petrol analysts indicate that if the owners of petrol stations decide in the coming days to introduce an increase in retail prices resulting from changes in wholesale prices, with margins still very low, in the second week of November drivers can expect new – higher price lists.
Fuel prices at stations in November
“Further increases in fuel prices are probably no surprise to drivers. This week the slow pace may be a surprise and the fact that at many stations you can still refuel a liter of fuel for less than PLN 6” – they wrote in the commentary.
E-petrol analysts added that “the nationwide prices of 95-octane gasoline and diesel fuel did not exceed PLN 6 per liter this week, but the attempt to defend against breaking this psychological barrier is more and more desperate and only postpones what is for a long time the level of wholesale prices seems to be inevitable. “
They forecast that in the case of the popular EU95 petrol, the average nationwide price should be within the range of 5.98-6.14 PLN / l, and diesel may cost between 5.99 and 6.17 PLN / l. “Autogas prices are unlikely to change and should be in the range of PLN 3.15-3.23 per liter” – estimate e-petrol experts.
Crude oil – prices
As BM Reflex pointed out, on Friday morning the January series of contracts for Brent crude oil was trading in the region of $ 81 a barrel. Thus, the downward correction on the crude oil market is already around $ 5.
On the other hand, e-petrol pointed out that the price reduction was not stopped by the decision of OPEC + to maintain the current policy in the field of production and increase production by the previously agreed 400 thousand. barrels. The producer group ignored appeals from large customers, incl. USA, to accelerate the pace of easing the production limits.
According to analysts of the portal, the consistent attitude of OPEC + should support the high prices of the raw material, but investors’ attention was drawn to the information that appeared on Thursday on Saudi state television about the planned increase in daily extraction to the level of 10 million barrels in December, for the first time since the outbreak of the coronavirus pandemic .
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