Minister of Treasure may influence margins of fuel firms

APA - Austria Presse Agentur
opublikowano: 25-11-2005, 15:27

Warsaw (Puls Biznesu) - Yesterday, a meeting was held among Andrzej Mikosz, the Minister of Treasure, Teresa Lubinska, the Minister of Finance, and the CEOs of Poland's two biggest fuel companies - Igor Chalupiec of PKN Orlen and Pawel Olechnowicz of Grupa Lotos. Andrzej Mikosz assured that he would not change the margins of refineries and other enterprises.

 Warsaw (Puls Biznesu) - Yesterday, a meeting was held among Andrzej Mikosz, the Minister of Treasure, Teresa Lubinska, the Minister of Finance, and the CEOs of Poland's two biggest fuel companies - Igor Chalupiec of PKN Orlen and Pawel Olechnowicz of Grupa Lotos. Andrzej Mikosz assured that he would not change the margins of refineries and other enterprises.

There are, however, still instruments to influence the level of retail margins, Andrzej Mikosz said.

In his opinion, the September decrease of fuel excise duty was not reflected in the retail price of gas.

Pawel Olechnowicz believed that there is not much space to lower margins.

They are low already. We may influence our own gas stations, but there are relatively few of them, he said.

Igor Chalupiec reminded that fuel prices in his company did not rise as much as oil prices due to disasters caused by Katrina hurricane. Both CEOs are aware that if the excise duty and prices grow, the demand may break down. Therefore they are going to do their best to avoid it.

Teresa Lubinska said that the decision concerning the excise duty would be made on Friday or Monday.

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Podpis: APA - Austria Presse Agentur

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