This week, fuel prices at stations witnessed their first decline since mid-October. Fuel suppliers can rejoice, because the vision of falling prices is not over yet – e-Gasoline analysts noted on Friday. They expected the prices of all types of fuel to fall in early December and November.
As they note, in recent days, oil has been “extremely volatile, jumping below and above the $80 level.”
Currently, raw material producers are suffering under the weight of the weak results of the world’s major economies, and the lack of an optimistic outlook in this area indicates the possibility of further cuts, also at domestic plants. – Gasoline Analysts Electronic Books.
They noted that compared to last Saturday, wholesale fuel prices on the Polish market decreased Declines were recorded in gasoline and heating oil prices. Today, 98 octane gasoline costs PLN 5,113 per cubic metre, which is PLN 106 less than last weekend. The current average of Pb95 is PLN 4,807/m3. – That is, less than 79 Polish zlotys in the same period. Heating oil in turn became cheaper by over PLN 55 to PLN 4,354 per cubic meter. The price of diesel fuel increased only slightly in the period in question and today it costs 5211 PLN per cubic meter, i.e. 36 PLN more compared to the price lists at the end of last week. – Explained in the analysis.
According to e-Peterol representatives, in early November and December, the reductions will apply to all types of fuel. According to our latest analysis, for the period between November 27 and December 3, 2023, we expect Pb98 prices to range between PLN 6.89-7.04 at most stations. In the case of Pb95 gasoline, the range will be 6.37-6.49 PLN/l. For diesel, we expect the price to range between PLN 6.58 and PLN 6.70 per litre. The downward change may also affect automobile gas prices and will cost PLN 3.01-3.10 per litre. – books.
They believe that speculation about the upcoming OPEC+ meeting has a decisive impact on the behavior of oil prices in recent days. It was originally scheduled to be held this weekend, and in the face of lower raw material prices recorded in mid-November and pessimistic prospects for increased fuel demand in the coming months, some investors believe that the producer group may decide to deepen production cuts. Playing under this scenario led to significant increases in oil markets, with local prices reaching their peak at the beginning of the week – Notice.
However, information emerged on Wednesday that the meeting had been postponed until the end of November, and media reported that there were differences of opinion within the group of producers. This led to a rapid decline in the oil market, initially causing the price of raw materials to fall below US$80. However, some losses were recovered before and before the weekend, awaiting the outcome of the OPEC+ meeting, where the price of a barrel of Brent crude will exceed $81. – Addition of electronic gasoline analyzers.
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