Fuel prices: We will finally have lower bills!

In the coming days, we will see long-unseen cuts on the fuel market in Poland, and this year we will say goodbye to six zloty levels at stations.

In the wholesale part of the fuel market, the turn of November and December brought a significant drop in prices, which was a reaction to cuts in the oil markets and the strengthening of the zloty. Today, for a cubic meter of 95-octane gasoline in refineries, you have to pay an average of PLN 4,428.20. Over the last week, gasoline decreased by PLN 287.80, which is the lowest price of this fuel since August this year. In the case of diesel, the scale of the discount is similar and amounts to PLN 286.20 – diesel in the official price lists of domestic producers currently costs PLN 4,655.20 / cubic meter on average.

The beginning of December brought a stabilization of retail fuel prices. We pay the same as last week for refueling and its 98-octane version costs 6.32 PLN / l, and the 95-octane version is 6.04 PLN / l. Diesel fuel went up a penny and its average price is currently PLN 6.05 / l. Refueling autogas is an expense of PLN 3.39 / l, the same as a week ago.

The direction and dynamics of price changes on the wholesale market indicate that in the coming week we will finally see a reduction in bills for refueling, not due to the anti-inflationary shield, which will come into force only in the second half of December, and its impact on retail fuel prices will be rather symbolic . The first downward corrections at the stations since August will be the result of developments in international markets. However, drivers may be a bit disappointed with the dynamics of reductions, because retail market operators, after a long period of very low margins, may carefully translate changes from the wholesale market to prices on pylons.

The price ranges forecasted by e-petrol.pl for individual fuel types for the coming week are as follows: PLN 5.91-6.05 / l for 95-octane petrol, for diesel PLN 5.95-6.06 / l and 3, 32-3.39 PLN / l for autogas.

In recent days, after the shock of the new variant of the coronavirus and related fears, prices have dropped sharply before stabilizing somewhat at $ 70 per barrel of Brent crude oil. The risk that the new mutation will be more contagious and the fight with it will force another lockdown acted like a paralyzing vision for oil traders, but you have to wait several days for the results of the research and until then the market can unfortunately feed on various rumors.

An additional argument for declines in recent days may be the planned release of raw material reserves by the US or China. However, the timing of the US release of reserves is some unknown – the deadline may be postponed if global energy prices fall significantly. Such an announcement was made on Wednesday by US deputy secretary for energy, David Turk. In the face of concerns about the influence of Omikron, as well as the already established OPEC + policy, this topic may turn out to be closely analyzed in the following days.

The OPEC + decision made yesterday, which was awaited in tension, was also a respite for the market. In January 2022, the organization will increase the production of raw materials by another 400 thousand. as previously announced, the specter of “cutting” production is receding for fear of an oversupply, which could arise as a result of the release of reserves and possible lockdowns. OPEC + wants to meet again in the normal manner on January 4, then a new OPEC secretary will be appointed, but the door is left for a possible reaction to the new arrangements for the Omikron variant and the possibility of an extraordinary meeting was reserved later this month. After the OPEC + decision, the market temporarily reacted with declines, but on Friday morning the situation was returning to normal, and no further reductions could be seen.

Compiled by Dr. Jakub Bogucki, Grzegorz Maziak

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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