What influences the fuel price? Many factors, some of them in sign language, are discussed by Jakub Malik. World of the Deaf MOTO #13
There is a lot of mention in TV and other media that fuel is more expensive – the reasons are mainly arguments such as – more expensive price per barrel of oil or the depreciation of the zloty in relation to the dollar, and all this because of the war in Ukraine – is it really so? In this video I will try to explain what is the reason for such high fuel prices.
To begin with, let’s compare fuel prices – before the war to the current ones: before the war – 02/23/2022:
Now, during the war – 03/15/2022:
How much is more expensive?
The media say that the reason for fuel prices is the more expensive barrel – so let’s compare the price of a barrel before the war to the current one. Oil price per barrel before the war (02/23/2022) – $ 95.88 The price of a barrel of crude oil currently (03/15/2022) – $ 98.00 How much is more expensive? + $ 2.12 (approx. 2%) So we can see that the price increase is not caused by the increase in the price of a barrel of oil.
So let’s check if it may be a question of the zloty’s depreciation in relation to the dollar. The value of the dollar (against the zloty) before the war (02/22/2022) $ 1 = PLN 4.01 The value of the dollar now (03/15/2022) $ 1 = PLN 4.29 Loss – PLN 0.28 (around 6%) We can also see that it is not a question of the depreciation of the zloty against the dollar – So what is the cause?
In Poland, one of the two largest refineries has decided to increase its margin by as much as 700% – in my opinion it’s a bit too much! They get 7x as much as normal because the war ?! Due to the war, some bakery plants lowered the price of bread or rolls, and refineries are picking them up especially for this occasion… A bit of unethical behavior, isn’t it?