Fuel Prices Hold Steady Amidst Shifting Markets
EU Sanctions and Global Oil Trends Influence Local Pricing
Recent analysis of Polish gas station prices reveals minimal change from the previous week. A slight decrease was noted for gasoline, while autogas and diesel saw minor adjustments.
Current Fuel Averages
As of July 17th, average retail fuel prices stand at: unleaded 95 gasoline at 5.92 PLN/l, unleaded 98 gasoline at 6.69 PLN/l, diesel at 6.10 PLN/l, and autogas at 2.74 PLN/l. These figures reflect stability in the wholesale market, with only diesel experiencing a marginal price dip.
Outlook for the Coming Week
Consumers can anticipate a modest increase in diesel prices, projected at around 3 groszy per liter. Gasoline and autogas prices are expected to remain largely unchanged.
- Gasoline PB95: 5.92 PLN/l
- PB98: 6.68 PLN/l
- Diesel: 6.13 PLN/l
- Autogas: 2.75 PLN/l
Global oil markets are closely watching developments, with September oil contracts trading around $70 per barrel.
Geopolitical Forces Impacting Energy Markets
The European Union recently enacted its 18th sanctions package against Russia, targeting its oil and energy sectors. A key measure includes a price cap on Russian oil, set 15% below its average market value.
Meanwhile, the United States administration’s response to potential further sanctions is eagerly awaited. This follows earlier statements from President Donald Trump regarding sanctions on buyers of Russian exports if a peace accord isn’t reached swiftly.
US Oil Reserves and OPEC+ Forecasts
Latest data from the EIA indicates a decrease in US oil reserves by 3.9 million barrels, bringing the total to 422.2 million barrels. Stocks of gasoline and refined products saw increases.
OPEC+ has maintained its global oil consumption growth forecasts for the current and next year. The organization anticipates world oil demand to rise to 105.13 million barrels per day this year and 106.42 million barrels per day by 2026. In June, OPEC+ production averaged 41.56 million barrels per day.
This week, the average price of gasoline in the United States rose to $3.73 per gallon, the highest since August 2023, according to AAA data (AAA).
