February 1, 2023

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Oil is the cheapest in a year.  Will fuel prices go down?

Oil is the cheapest in a year. Will fuel prices go down?

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10 PLN for a liter of fuel? Dersky: Probably

US stocks on Thursday Crude oil WTI fell to a multi-month low – then at 20:00 the price per barrel was around 71.50 dollar. Recently raw materials It cost a lot in mid-December 2021.

WTI oil prices fell Source: Stooq.pl

The same applies to the European type of Brent Crude Oil. Thursday evening price of this commodity at $76.20 per barrel. Also in this case we are dealing with the lowest the prices Brent crude since December last year. Will lower oil prices lead to lower prices? fuel prices in Poland?

Brent crude oil price dropBrent crude oil price drop Source: Stooq.pl

sanctions on Russia. The European Union imposed a cap on the price of Russian oil, and Norway announced a similar move

Since December 5th, the EU embargo on oil imported from Russia by sea has been in effect.. The decision on the matter was made at a summit with European leaders in late May and finally confirmed a few days later. In addition, the European Union, in agreement with the G7, entered into force a cap on the price of Russian oil in the amount of 60 US dollars per barrel.

More information from around the world You can read on the home page of Gazeta.pl

Penalties However, it does not include oil pipelines, so Hungary, Slovakia and the Czech Republic can still import Russian oil through the Druzhba pipeline. Exceptions can also be made for Bulgaria and Croatia. May’s arrangements were brought in line with G7 agreements on a Russian oil cap. This increases the impact of EU sanctions and further restricts revenues Russia – said the President of the European Commission Ursula von der Leyen.

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On Thursday, the Norwegian authorities said they would also set a price ceiling of $60 a barrel for Russian oil. It will limit the impact Russia from selling oil to third countries.” Featured in a government proclamation.

“Norway stands with the European Union and other allies on sanctions against Russia“To maintain pressure on the government and its supporters,” Foreign Minister Anneken Huitfeldt said in the statement. And on December 5, the Norwegian government imposed a ban on the import, purchase and transportation of Russian materials. Crude oil To Norway, the European Union and third countries.