July 7, 2022

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Fuel Prices - When Will They Stop Rising?

Fuel Prices – When Will They Stop Rising?

As the PIE expert pointed out, the war in Ukraine has caused fuel prices to rise. In February, the price of fuel for diesel engines became more expensive – its price rose to PLN 8 per liter at the peak, and then settled around PLN 7.50.

He noted that this significant increase was the result of concerns about the embargo imposed on supplies from Russia. He added that European countries import not only Russian oil, but also processed fuel.

Klochnik noted that the prices of petrol and diesel in Poland in recent weeks have become equal.

He stressed that the electronic data for gasoline shows that we observe similar trends in all countries of the European Union. According to the expert, this is probably the result of the heavy burden on European refineries, which they compensate for with limited imports from Russia.

We expect diesel and gasoline prices to remain unchanged in the coming months evaluation.

Standard prices? “Strong Demand Effect”

In the coming months, fuel will still be expensive. – Peak prices will occur during the summer holidays – about 7.5-7.7 PLN per liter. This will be a result of strong demand due to holidays and limited refinery processing capacity, the expert noted. He noted that prices were further strengthened by the need to replace Russian oil with imports from other directions, including Norway and the Middle East.

According to the expert, the economic slowdown in the second half of the year will reduce oil and gasoline prices at stations.

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