The price of unleaded petrol should fall to around PLN 5.80 per litre when new regulations lowering excise duty on fuel come into force, PKN Orlen CEO Daniel Obajtek told RMF FM radio on Friday.
Fuel prices will fall thanks to a law lowering excise duty on fuel and electricity, which was passed by the Polish Parliament on Thursday. The law is part of the government’s anti-inflationary shield, which also includes changes in VAT rates for electricity, gas and system heat. The fuel excise tax cut is scheduled to take effect on December 20 this year.
“95 will cost around PLN 5.80 per litre. It’s hard to estimate the exact amount because there are some price fluctuations. In accordance with the government’s announcement and the reduction of the state subsidy, we will apply it through the wholesale market, because of course it is sewn into the wholesale market and of course we will also apply it to the retail market because we have petrol stations all over Poland. I think other competing stations will adjust their prices. These are so-called micro-markets, they will adjust the price level in our retail,” Obajtek said.
He added that we are already seeing changes in the market that are contributing to the decline in fuel prices. He mentioned, among other things, falling oil prices and the strengthening of the zloty against the dollar.