Over the past week, the prices of Natural 95 and Diesel continued to decline. The cost of During the past week, the prices of Natural 95 and Diesel kept dropping. The price of Natural 95 decreased by additional 3 grosze per liter, and Diesel saw a reduction continued by grosze per liter as well.
The price of Brent crude oil on the Rotterdam exchange rose by 1 dollar per barrel last week, surpassing $72 per barrel. On Monday of that week, it increased by nearly two dollars per barrel. This rise was influenced by several factors.
During the week of March 22 to March 28, 2025, oil prices fluctuated within a narrow range but showed a slight upward trend. A report from Reuters on March 28, 2025, indicated that this trend was supported by expectations of a third consecutive weekly price increase, driven by tightening global supply due to new 25% U.S. tariffs on oil imports from Venezuela and restrictions on trade with Iranian oil.
The market displayed signs of nervousness in response to rising protectionist measures and concerns about slowing global growth. This sentiment was also reflected in the broader economic context, as U.S. stock indices experienced declines amid uncertainty surrounding trade policy and persistent inflation. Consumer confidence in the U.S. continues to wane, further contributing to overall market uncertainty.
At the same time, analysts pointed to an anticipated increase in oil supply in 2025. A significant factor influencing the oil market was the announcement of the start of production under the Future Growth Project (FGP) at the Tengiz oil field in Kazakhstan. This project is expected to boost oil production by 260,000 barrels per day at full capacity. Along with other new projects, including the Bacalhau field in Brazil, nearly 3 million barrels per day are expected to come to the market in 2025. However, analysts caution that a significant drop in oil prices could lead to delays in some planned deliveries. Thus, a substantial decline in oil prices may not materialize.
Given the geopolitical events and various economic factors affecting the global oil market, the forecast for future oil price developments remains uncertain.
In the next week, fuel prices will likely fluctuate around their current levels.
For companies in the logistics sector, consistent and systematic fuel replenishment represents a key strategy for cost control. Strategic and coordinated fuel procurement allows these firms to better respond to short-term price fluctuations in the market, significantly contributing to their financial stability.
Commentary prepared by Marcin Wawrzkiewicz, Country Manager of Malcom Finance in Poland.
