Fuel prices to rise as Mid East tensions rise
16:49
Rising tensions in the Middle East are pushing up crude oil and refined-product prices, leading to higher fuel costs in Poland. Gasoline and diesel prices increased by an average of PLN 0.06–0.08 per liter this week, with diesel exceeding PLN 7 per liter at many stations. Reflex forecasts further increases for July 13–17, including average prices of PLN 6.95 for 95-octane gasoline and PLN 7.20 for diesel. LPG remains the exception, having fallen for 11 consecutive weeks.
Brent crude briefly approached $80 per barrel amid renewed U.S.-Iran tensions and concerns over shipping through the Strait of Hormuz. However, prices stabilized because maritime traffic has not stopped. The U.S. Energy Information Administration also sharply lowered its third-quarter Brent forecast to $74 per barrel.
