Prices oil for a long time, they have only dropped under $ 100 per barrel of brent or WTI for a long time. The last time they were so high around 2013. Although the valuation of crude oil is at a similar level as nine years ago, fuel prices are higher than then by an average of PLN 2 – enumerates TVN24. At the same time, however, the station returns uwagêthat wages and benefits are growing so quickly that, despite higher fuel prices, you can buy more fuel for the minimum pension than in 2013.
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Why are fuel prices soaring?
Jakub Wiech from Energetyka24 asked about the difference between the costs of purchasing oil and the prices of fuels at TVN24 stations.
First of all, when it comes to the fuel market, it is separate from the oil market. These are two different markets that are subject to fluctuations and factors depending on different sources. When it comes to such simple calculations, the cost of a barrel of oil alone and the ratio of the zloty to the dollar are not enough
– explained Wiech. As he added, fuel prices they are also dependent on overhead costs, such as energy prices, costs of emission allowances and transport.
More information from the country on the Gazeta.pl home page
The high costs of the raw material result from the market loss caused by the limited availability of fuels from Russia. In addition, we continue to face the problems that are caused by the pandemic. Many producers suspend the transport of crude oil over long distances, because in its course the price may change to their disadvantage, Wiech explains.
According to the expert, fuel prices are higher than in 2013, e.g. due to the demand resulting from the market unblocking after the pandemic. In addition, there is a demand for fuels created by those fleeing from Ukraine cars refugees or the growing demand for fuel for military purposes.
It is all a demand mechanism that drives prices up at stations. We have a negative situation on the raw material prices market and a negative one on the fuel market, which simply overlap. That’s why these prices are so high
– explained Jakub Wiech.
Are margins pushing up prices?
Another aspect of high fuel prices may be margins. Dawid Czopek at the beginning of April argued on Gazeta.pl that now the refining business is almost a hen that lays golden eggs. Diesel fuel became the key to earning money.
We are dealing with a situation where there is no diesel on the market and the margins are the highest at the moment. Refining capacity in Europe does not meet the demand for diesel oil. We have to import it. About 40 percent. of diesel fuel came to Europe from outside, of which about half came from Russia. Meanwhile, import from this direction is currently very limited. Thus, the margins on diesel processing have grown enormously – although refineries do not want to admit it. Until now, you made about $ 10 on the conversion of one barrel into diesel, now about five times more
– said the expert.
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