The latest data published by PKN Orlen shows that the company reduced wholesale prices on Saturday prices of Eurosuper 95 petrol by PLN 62, Super Plus 98 petrol by PLN 55, and Ekodiesel diesel oil by PLN 31 per cubic m.
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According to Saturday's current wholesale price list, a cubic meter of Eurosuper 95 unleaded petrol will cost PLN 5,000. PLN 228 In turn, Super Plus 98 unleaded petrol currently costs PLN 5,000. PLN 739 per cubic meter, while Ekodiesel diesel oil was valued at PLN 5,000. PLN 597 per cubic meter.
A weekend with higher limits at stations
Let us remind you that from March 31, all stations in Poland have maximum fuel prices, temporarily introduced as part of the government's regulatory package “Fuel Prices Lower”, which is intended to limit the increase in prices of these products. These prices are calculated based on the average wholesale price, plus excise duty, fuel surcharge, margin and VAT.
According to the latest announcement of the Minister of Energy on maximum fuel prices, from Saturday to Monday inclusive, a liter of unleaded 95 petrol will cost no more than PLN 6.04, unleaded 98 petrol – PLN 6.58, and diesel oil – PLN 6.40. This means an increase in the price of all these fuels compared to Friday, when the limits were PLN 5.98, PLN 6.55 and PLN 6.37, respectively.
The next announcement, which will determine the rates for Tuesday, will be announced on Monday.
It is worth remembering that on the first day of the restrictions, i.e. at the end of March, the limits were noticeably higher – for 95 petrol they were PLN 6 and 16 groszy, and for diesel oil as much as PLN 7 and 60 groszy per liter.
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Geopolitics and tax changes
The main driver of previous market tensions was global geopolitics. The attack by the United States and Israel on Iran on February 28 resulted in an increase in global crude oil prices, as well as in the prices of finished fuels, which translated into retail prices of these products at gas stations, including in Poland. However, the last hours have brought a strong relaxation in the commodity markets.
On Friday in the US, WTI crude oil contracts for July deliveries dropped by 3.94%. to $84.25 per barrel, while August Brent crude oil futures lost 3.98%. to $86.78 per barrel. It was this collapse that opened up space for Orlen's wholesale discounts on Saturday.
However, the fuel market is facing significant tax changes. On Friday, an amendment to the regulation extending the lower 8% VAT on fuel was published.
At the same time, a source close to the Ministry of Finance told PAP that day there will be no extension of the excise tax reduction on some fuels. Therefore, from June 16 to 30, in addition to the reduction in the VAT rate from 23 to 8 percent, maximum prices at stations will apply, which are set daily by the Minister of Energy. Pursuant to the Act, top-down maximum prices apply as long as the reduction in VAT rates is maintained.
