On the same day that Russia attacked Ukraine, a large part of the Polish population panicked and headed to petrol stations intending to stock up on fuel just in case. This behaviour was partly influenced by various fake news stories, which appeared online specifically to cause panic and chaos.

Panic and queues at stations also in Bolesławiec

Residents of Bolesławiec and Bolesławiec County also headed to the stations en masse. They filled not only their cars but also the canisters they had brought with them. The panic escalated to such an extent that, as a result, prices at stations shot up. At many stations, prices rose by between a dozen and even several dozen groszy per litre over the course of a single afternoon.

The price of fuel (95-octane petrol and standard diesel) approached PLN 6 per litre, and at some stations even exceeded PLN 6. Panic and increased purchases meant that some stations temporarily ran out of fuel...

However, it appears that the situation is calming down. On Friday, traffic at stations in Bolesławiec was already lighter. On Saturday, traffic was heavier than usual, but there were no queues like those on Thursday (24 February). As for average fuel prices in Poland, in retail sales on Friday, 25 February, 95-octane petrol cost an average of PLN 5.77, diesel PLN 5.83, and LPG PLN 2.69.

The main culprit behind the confusion on the fuel market is drivers’ panic buying

We observed a similar situation at the beginning of the COVID-19 pandemic. At that time, people panic-bought various food and hygiene products, resulting in temporary shortages of some products and price increases. The situation returned to normal when people stopped buying them up in a panic, showing that the products were lacking solely because of panic buying and stockpiling.

What is happening on the oil market?

Oil exchange prices fell. On Friday (25 February), the price of a barrel of oil on global exchanges fell to $94 (on Thursday, the day Russia attacked Ukraine, it cost $106). PKN Orlen CEO Daniel Obajtek acknowledges that demand for fuel is currently elevated, but at the same time assures and reassures the public that there will be enough fuel for everyone.

What is PKN Orlen doing to stop prices from rising?

The Orlen CEO announced the immediate termination of contracts with stations that artificially inflate prices.

To ease traffic and queues at stations, on Friday (25 February) Orlen decided to introduce temporary refuelling limits. Drivers of passenger cars may fill one tank (50 litres), while truck drivers may purchase 500 litres. Service vehicles may refuel any amount of fuel. Sales are to return to normal once traffic and queues have eased.

Poland’s largest fuel producers and sellers—PKN Orlen, Grupa Lotos and PERN—also assure the public that they are monitoring the situation continuously and are prepared for every scenario. Poland has adequate stocks of crude oil and diversified sources of supply.

UOKiK inspections begin

To stop the sharp rise in prices, inspections are beginning at petrol stations that are raising prices without justification. The decision was issued by the President of the Office of Competition and Consumer Protection, Tomasz Chróstny:

When will the situation return to normal?

Everything suggests that normal conditions and refuelling without queues will return when the panic ends. Unfortunately, at the same time, we have to accept that fuel will be more expensive.