Oil costs as much as it did before the war. PKN Orlen explains the prices
Recently, positive news for drivers has been flowing from the markets. A barrel of crude oil on the New York Stock Exchange fell significantly. On Wednesday, it was valued at around $78. — the lowest since September.
At the same time, the Polish currency is making up for losses. The exchange rate of the dollar still exceeded PLN 5 in October. Now it has dropped to PLN 4.55. This is one of the lowest valuations in the second half of the year.
It is always emphasized that it is the stock exchange quotations of crude oil and the dollar that mainly determine fuel prices. If we look at futures contracts for crude oil, the value of which is expressed in the Polish currency, it will turn out that they are at the level from Februarybefore the outbreak of war in Ukraine.
Information on this subject appeared on the Wykop website, where users call: “Obajtek lower your prices”. At petrol stations in Poland, the average price of cheaper 95-octane petrol is around PLN 6.60, which is much higher than at the end of February. At that time, a liter could be refueled for about PLN 5.20.
See also: Orlen benefits from differences in crude oil prices. It nearly doubled the model refining margin
Representatives of the company reacted to critical entries appearing at the address of PKN Orlen, the largest network of petrol stations. In a statement they wrote that “fuel prices in Europe are based on the ARA fuel prices, not crude oil prices“.
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“Since the start of the war in Ukraine, quotations taking into account the dollar exchange rate have increased by about 15 percent for gasoline and about 40 percent for diesel, which is reflected in fuel prices in Europe,” reads Orlen’s statement.
The company also indicated that the cost of fuel production, apart from the purchase of crude oil, is also influenced by electricity prices (increase from February to October by 24%), gas used in production (increase by 13%), cost of sea transport (increase by 77%) or bio-additives (increase by 6%).
“Although all refineries in Europe bear similar production costs, fuel in Poland has been the cheapest in the entire EU for many weeks and definitely cheaper than in countries of our region with similar wealthOrlen argues.
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