Petrol and diesel costs in Poland have risen most in EU since Russia’s invasion of Ukraine

Within the three months since Russia’s invasion of Ukraine, petrol and diesel costs in Poland have risen greater than in another European Union nation.

The figures – reported in the present day by financial information service 300Gospodarka based mostly on European Fee knowledge – present that in Poland petrol costs have risen 35.57%, properly forward of second place Czech Republic (23.14%) and Lithuania (23.01%) in third.

On the different finish of the size, costs haven’t risen in any respect in Hungary (the place, 300Gospodarka notes, the federal government has put in place value controls) whereas in Italy they’re up 1.25% and within the Netherlands 8.27%.

Poland’s authorities argues, nevertheless, that, regardless of the current surge, gas costs in Poland in nominal phrases nonetheless stay among the many lowest within the European Union. Even earlier than the struggle in Ukraine, it took steps to sort out surging costs by slicing taxes on gas and vitality.

European Fee knowledge confirms that gas costs in Poland are nonetheless comparatively low, notes 300Gospodarka. The value of petrol in Poland (€1.59/litre) is the fourth lowest within the EU, forward of solely Hungary (€1.26), Slovenia (€1.56) and Bulgaria (€1.58). The most costly is in Finland (€2.37), Denmark (€2.32) and Greece (€2.27).

However, when one takes into consideration earnings, Poles are capable of purchase a lot much less petrol than their western counterparts. On a month-to-month common wave in Poland you’ll be able to refill a automobile with a 60-litre tank 12 occasions, whereas in Germany on a median wage you are able to do so 21 occasions.

Consultants word that gas costs at petrol stations are decided by three major elements: oil costs on commodity markets, costs of processed gas merchandise, and the zloty trade charge in relation to the greenback, which considerably dropped within the aftermath of Moscow’s aggression.

“What makes the present scenario uncommon is the disconnect between gas costs and oil costs,” mentioned Grzegorz Maziak, a gas business knowledgeable chatting with monetary information service Cash.pl. “Within the case of diesel we have now been coping with this just about for the reason that outbreak of struggle in Ukraine, and since mid-April, it has additionally affected petrol.”

In keeping with the information analysed by 300Gospodarka, the speed of diesel value will increase in Poland was additionally the best within the EU, although the distinction with different international locations was not as pronounced. The value of a litre of diesel at Polish petrol stations rose by 32.01%, forward of Latvia (30.31%) and Romania (28.05%).

For its calculations, 300Gospodarka analysed knowledge overlaying the interval from the third week of February, simply earlier than the Russian assault on Ukraine, to the third week of Might. The in contrast costs take note of taxes and are calculated in nationwide currencies.

 

Most important picture credit score: Orlen press pack