The price reductions at petrol stations in Bolesławiec are the result of the zloty strengthening against the dollar and the euro, as well as a reaction to falling crude oil prices and refined fuels on global exchanges. Unfortunately, compared with average fuel prices in Poland, petrol stations in Bolesławiec have prices that are on average 10 groszy higher.
Until recently, no one expected fuel prices to start falling during the autumn-winter season—precisely when demand for heating oil is at its highest. It turns out that the OPEC countries have fallen into a trap of their own greed. First, they declared that they would consistently reduce oil production, which allowed them to drive prices up. In reality, they did not comply with these limits, selling the crude oil illicitly. As a result, crude oil reserves on the oil market did not decrease but increased.
A month ago, the price of a barrel of crude oil on global exchanges was 45 dollars. It now costs 5 dollars less. To prevent a further price decline, the OPEC countries decided on Friday to reduce crude oil production by one million barrels per day. However, stock-market analysts do not believe that OPEC will reduce production.