agency stocks, which are managed by the Government Agency for Strategic Reserves; mandatory stocks, which are held by producers and traders such as Orlen.
The Ministry of Climate and Environment confirmed to money.pl on Thursday that After the outbreak of the war in Ukraine, intervention stocks were partially released in Poland. However, it did not specify what type of emergency stocks it was talking about.
“In a crisis situation, i.e. market disruptions caused by the war started by Russia in Ukraine, in accordance with appropriate procedures and in conjunction with the recommendations of relevant international organizations, these stocks were partially released and then rebuilt thanks to the effective policy of the government and companies and cooperation with the fuel market.” – we read in the response of the Ministry of Culture and National Heritage.
The mentioned release took place in the spring of 2022 after the outbreak of the Russian-Ukrainian war and after the energy crisis – said the ministry in response to money.pl’s questions.
The Ministry of Environmental Protection emphasized that currently the reserves are once again sufficient to cover 90 days of fuel demand.
State-owned Orlen, asked whether it had used any fuel reserves to stabilize prices on the fuel market, this time he didn’t deny it. He covered himself with company secrets. In response to money.pl’s questions we read:
Information about the use of mandatory reserves of crude oil and fuels in Poland by the producer and trader, such as ORLEN SA, is protected as a business secret. Therefore, the Company cannot disclose to entities not related to the operation of the stockpile system detailed information regarding the mandatory reserves of crude oil and fuels it maintains and required by law.
The rest of the article is below the video
See also: Miracles happen at stations in Poland. Expert: It can’t go on like this anymore
Does it use it or not? “Minor manipulation”
Let us recall that on Tuesday, Polityka Insight, citing its sources, wrote that Orlen uses strategic fuel reserves to maintain low prices at gas stations. “He wants to limit inflation and support PiS w elections” – assessed the think-thank in the first sentences of the study.
At that time, both Orlen and the Ministry of Climate and Environment firmly denied these findings. “Orlen does not use strategic reserves of petroleum products created on the basis of the Act of December 17, 2020 on strategic reserves,” the fuel company replied to money.pl’s questions after the publication of Polityka Insight. The Ministry of Climate also stated in a laconic response regarding Orlen that “no, it does not use” strategic reserves.
Meanwhile, Robert Tomaszewski from Polityka Insight said that the answer given by Orlen to money.pl was a “minor manipulation”.
“The act specifying the conditions for the use of emergency fuel reserves is the Act of February 16, 2007 on stocks of crude oil, petroleum products and natural gas, and not the Act on strategic reserves. So far, neither Orlen nor the Ministry of Climate and Environment has denied our findings regarding the use of intervention reserves (specifically the required reserve) by Orlen to balance the fuel market,” wrote Robert Tomaszewski from Polityka Insight on the X platform (formerly Twitter) on Wednesday. So we asked Orlen and the Ministry of Culture and National Heritage about this important detail.
Fuel “miracle on the Vistula”. What’s going on with prices at gas stations?
Questions about what is happening on the Polish fuel market have become more intense in recent weeks. Goldman Sachs analysts noticed the anomaly on the Polish fuel market a few weeks ago. As we wrote many times at money.pl, in neighboring countries, fuel prices at stations are rising, but not in Poland.
Official data European Commission confirm the divergence in fuel prices between Poland and neighboring countries. This is even more clear in the latest report from last Thursday. Average prices of petrol and diesel in Poland have dropped noticeably. We already have the cheapest petrol in the European Unionand diesel fuel can be refueled cheaper only in Malta.
Our interlocutors – fuel market analysts – emphasized that such a situation cannot be maintained for long. They did not rule out that we would see low prices at gas stations until the elections, although – as they pointed out – the market environment may force price movements to increase even earlier.
In my opinion, after the elections, the price of fuel will go up if nothing changes. Of course, it will not be the case that on Monday, October 16, we will wake up in the morning and see PLN 7 per liter at the pumps. However, if there is no pressure related to the elections, the price will move towards real market prices – he said.
He calculated that a liter of diesel at gas stations should cost just over PLN 6 as it is currently, but PLN 7.5. Dr. Jakub Bogucki from e-petrol.pl also pointed out that “the reduction is not market-friendly”.
Orlen “is working towards price stabilization”
Orlen has not yet explained why and how it caused such an anomaly on the fuel market. However, he rejects accusations of manipulation and “politicization” of fuel prices.
“Fuel prices, not only in Poland, but throughout Europe, depend on the quotations of finished fuel products on European stock exchanges. Additionally, fuel prices on individual markets and in the offer of specific suppliers are also influenced by, among others, sources of fuel, costs of raw materials , fiscal burdens and production and service costs, including energy, logistics and labor costs,” Orlen explained in response to our questions about current fuel prices.
He also recalled that “to the extent possible, Orlen tries to make the prices of the fuel offered as attractive to customers as possible.”
Moreover, Orlen is working to stabilize prices to avoid sudden fluctuations in fuel costs incurred by customers. This is facilitated by the company’s pricing policy, which is shaped on an annual basis and implemented in accordance with the adopted financial assumptions, the company added.
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2023-09-21 19:30:45
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