The renewed increase in crude oil prices will certainly not calm the situation on the domestic market in the near future, therefore the average retail fuel prices will move towards PLN 6 per liter, according to market commentary by BM Reflex analysts.
The successive increase in fuel prices on the wholesale market has not yet been fully transferred to petrol stations, and only thanks to this, the average prices of Pb95 and diesel fuel remained below PLN 6 / l. However, there are stations where prices have already exceeded this level. On the other hand, it is becoming a norm that the prices of diesel fuel are higher than the prices of 95 lead-free petrol, which also shows the average level of prices of both fuels. This phenomenon that we remember from previous years is typical mainly for the autumn and winter period. The biggest difference so far, amounting to PLN 0.11 / l, was recorded in March 2019. Back then, we paid PLN 4.79 for a liter of 95 lead-free petrol, and PLN 5.10 for a liter of diesel fuel.
The average fuel prices are currently at the level of: 95 – PLN 5.90 / l (+5 gr / l) lead-free, 98 – PLN 6.11 / l (+8 gr / l), diesel – PLN 5.91 / l (+ PLN 0.8 / l) and autogas – PLN 3.17 / l (+ PLN 0.1 / l).
The renewed increase in crude oil prices will certainly not calm down the situation on the domestic market in the near future, therefore the average fuel prices will move towards PLN 6 / l.
Petroleum
For the eighth consecutive week, the crude oil market is seeing price increases. On Friday morning, the December series of contracts for Brent crude oil rose to the region of USD 85 / barrel (bbl) and crude oil is less than USD 2.5 / bbl more expensive than last week. The market is still predominant by expectations that in the event of a cold winter the energy crisis will worsen, also increasing the fuel deficit.
The International Energy Agency (IEA) has decided to revise its fuel demand forecasts. The energy crisis and the substitution effect are the current reasons for the upward revision of oil demand forecasts. Problems with the supply of natural gas, LNG and coal as well as disturbances in price relations will generate about 0.5 million bbl / d of additional demand for crude oil.
As a result, consumption growth forecasts for 2021 were revised upwards by 0.17 million Barrels per day (bbl / d) to 5.5 million bbl / d. In 2022, crude oil consumption is expected to increase by 3.3 million bbl / d, i.e. 0.21 million bbl / d more than estimated a month ago. The US EIA, in turn, expects oil prices to remain at similar levels until the end of this year
Source: BM Reflex and ISBnews
