Prime Minister Tusk is dragging down Orlen's ratings. Windfall tax on the horizon

Orlen's share price falls by 5.7%. after information about the government's plans to introduce a tax on excess profits of fuel companies. The turnover on the company's shares is growing rapidly.

The turnover on Orlen's shares amounts to PLN 140 million, while the turnover on shares of all companies listed in WIG20 amounts to approximately PLN 880 million.

Prime Minister Donald Tusk announced at a press conference that the government was preparing a tax on excess profits of fuel companies. He added that the government would reduce the VAT rate on fuels to 8%. with 23 percent

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Before the Prime Minister's speech, Orlen's shares dropped by approximately 0.4%, and the turnover amounted to approximately PLN 90 million.

CPN package – lower fuel prices

The package of fuel price reductions is expected to reduce prices by approximately PLN 1.2 per liter of each type of fuel, said Prime Minister Donald Tusk during his speech. He added that consumers should see reduced prices before Easter.

Government at At 6 p.m., at an extraordinary meeting, he will make a whole package of decisions so that, in a situation over which we have no influence, we can have the maximum influence on what is within our reach to keep fuel prices as low as possible, he added.

Tusk announced that further solutions are also being prepared, such as a tax on excess profits, the so-called windfall tax for oil companies that benefit from high oil prices.

“The situation is so paradoxical that… the higher prices on world markets, the more people pay at gas stations. But those who are in this business have higher profits. So we will also react in such situations by introducing a tax on excess profits of companies,” said the Prime Minister.

BPL/PAP