Drivers cross the border to fill up the country with one of the cheapest petrol in the EU. The phenomenon noted by economists
Economists at PKO Bank Polski SA observed that drivers from Poland's neighboring countries are crossing the border to refuel their cars amid measures introduced by the Warsaw government to cap fuel prices, according to Bloomberg.
In Poland, fuel sales rose 13.4 percent in April from March, according to Monday's data. In contrast, bank data shows that personal card transactions at petrol stations were virtually unchanged last month.
The increase in fuel sales “was probably due to increased demand from foreign companies or entities,” explained the economists, led by Piotr Bujak. “Card spending by PKO customers at gas stations remained stable during this period,” they stated.
Low fees and capped prices
Since early April, Polish authorities have cut fuel taxes and introduced a daily cap on pump prices to protect them from the consequences of the Iran war on the energy sector.
Polish Finance Minister Andrzej Domanski said on Monday that Poland would most likely extend the program of measures.
The measures cost Polish taxpayers around 1.6 billion zlotys (380 million euros) a month.
A liter of Eurosuper 95 petrol cost an average of €1.49 last week, the lowest price in the EU after Maldat, according to the latest data from the European Commission.
Orlen SA, Poland's biggest fuel retailer, said its overall sales were not significantly affected by tourists wanting fuel and would discuss the trends in more detail after releasing first-quarter results on May 28.
PHOTO: Zhanat Aitkhozhin | Dreamstime.com
