Reflex experts pointed out that in line with the direction of changes in fuel prices on the wholesale market, gasoline prices at stations continue to increase. Diesel prices, in turn, stabilized at last week's level.
“Current fuel prices are as follows: unleaded 95 petrol – PLN 6.58/l (+8 gr/l during the week), unleaded 98 – PLN 7.17/l (+8 gr/l), diesel fuel PLN 6.73/l (+0 gr/l), autogas – PLN 2.87/l (-2 gr/l)” – indicated.
According to analysts, current prices should remain unchanged for the holidays when it comes to diesel and autogas. However, it was emphasized that there is no such guarantee in the case of gasoline. “At some stations, the coming days may bring increases in gasoline prices of up to PLN 0.5 per liter, which may consequently slightly increase the average price level of Pb 95 to around PLN 6.60/l,” they added.
It was recalled that a year ago, during the pre-Christmas week, petrol and autogas were more expensive by PLN 17/l and PLN 23/l, respectively. Diesel oil, in turn, was cheaper by 1 grosz.
Referring to the oil market, Refleks pointed out that the prices of the May series of Brent crude oil contracts increased to approximately USD 86.60/bbl. During the week, the price of Brent rose to approximately USD 0.70/bbl.
“Currently, the market is waiting for the meeting of the OPEC+ Joint Ministerial Monitoring Committee scheduled for April 3. Meanwhile, in February, Iranian oil production increased by 23% y/y (approx. 0.6 million bbl/d) to 3.2 million bbl/d. Iran is a member of the OPEC+ agreement but is still exempt from maintaining production limits,” they added.
Analysts indicated that American crude oil stocks, according to EIA data, increased by 3.2 million bbl to 448.2 million bbl during the week. “The level of inventories is 2% lower than the 5-year average for this time of year. Gasoline stocks increased by 1.3 million bbl to 232 million bbl during the week and their level is 1% lower than the 5-year average for so far year. In the first three weeks of March, American fuel consumption averaged approximately 20 million bbl/d and was 4.6% lower than a year ago,” they concluded.
