Warsaw (Puls Biznesu) – Analysts calm down – consumers should not fear higher gasoline prices. The excise duty is a bigger threat.
Przyjazn, the pipeline delivering oil from Russia to Western Europe, stopped the transport yesterday. Russia decided to stop using this pipeline accusing Belarus for stealing oil on the way.
“There was no strong reaction from producers and retailers. Short-term delivery break will not affect the demand or the amount of fuel. When it gets longer, first operational storages and strategic storages in a threat of a crisis will be freed by the Ministry of Economy. If prices go up, it will be because of higher excise duty”, Urszula Cieslak, a fuel market analyst estimated.
In her opinion, the market expects that the clash between Russian and Belarus will be solved in upcoming days. Similarly, the analysts of IEA believe the European markets have storages for many days.
Lotos and PKN Orlen, Poland’s fuel giants, say that until the emergency sea deliveries are launched (which is just a potential in case of a crisis), they will have enough oil but then the prices may increase.
“If we have to substitute pipeline deliveries with sea deliveries, it may become true”, Marcin Zachowicz, Grupa Lotos spokesman warned.
Meanwhile, the European Commission asked for immediate delivery renewal. Angela Merkel, German chancellor and Jose Manuel Barrosso, the head of European Commission, criticized Russia.