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Return at gas stations. Bad news for drivers

Return at gas stations. Bad news for drivers
  • Oil prices fell on signs Iran is ready for peace talks and may abandon its nuclear ambitions.
  • Tehran conditions the negotiations on US non-involvement in Israeli attacks, while Israel continues to strike Iranian infrastructure.
  • Diesel fuel is becoming more expensive in Poland, and EU95 petrol is reaching its highest prices since April.

Oil prices on global markets stopped rising on Monday and even fell by a few dollars, especially after reports that Iran was supposedly ready for talks. Controlled leaks from Tehran appeared in the media, saying that leading Iranian politicians were willing to give up their ambitions to build nuclear weapons, just to stay in power.

In previous days, oil prices rose by several percent in response to Israel's bombing of Iran, but the market did not panic because investors considered that there was no direct threat to Iran's oil supplies to world markets. Now, it is even more unlikely.

Brent crude oil prices. Source: investing.com
Brent crude oil prices. Source: investing.com

Iran on Tuesday signaled its readiness for peace talks and a return to nuclear negotiations with the United States, conveying its position through Arab states. Tehran's condition is that the United States does not engage in Israeli attacks. Iran has also called for pressure on Israel to ceasefire and de-escalate the conflict. Israel, meanwhile, continues to attack Iran's nuclear and missile infrastructure until it is destroyed.

Meanwhile, on our market, wholesale diesel fuel at Orlen has gone up in price today by another 6 groszy per liter and is now the most expensive in over two months. Over the past week, its price has increased by 18 groszy. We can expect that in the coming weeks, this increase will also be transferred to retail prices at petrol stations.

The 95 petrol reacts much calmer. Here the wholesale price has not changed today, and over the last week we have had an increase of only 8 groszy per litre. However, in this case we are also dealing with the highest prices since the beginning of April.

Rafal Hirsch
Rafal Hirsch

An economic journalist who deals with what is happening in the economy and what the financial markets are reacting to. As part of the laborious monitoring of the daily stream of information, he extracts the most interesting and important information every morning in one concise report. Over the course of 30 years of professional activity, he has received numerous awards, including from the National Bank of Poland (Best Economic Journalist 2008), the Association of Individual Investors (Heros Rynku Kapitałowego 2012) and the Grand Press Foundation (Grand Press Economy 2023).

wnp.pl

wnp.pl

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