Fuel prices rising during the summer holiday
15:28
In July and August, fuel prices are expected to increase by a total of 40-60 groszy per liter due to heightened summer demand and a significant global oil deficit. The price of Brent crude oil is projected by the US Energy Information Administration (EIA) to potentially reach $90 per barrel in the third quarter of 2024, up from $77 to $86 per barrel in June.
Marek Wcisło from 4Trans Factoring, a fintech in logistics, attributes these increases to geopolitical tensions and increased fuel demand during the summer season. He warns that the global oil deficit, expected to grow from 1 million barrels per day in July to 1.9 million barrels per day in August, will heavily impact the market, potentially pushing wholesale and retail fuel prices higher.
