The Polish government’s program to cap fuel prices at the pump is enticing drivers from nearby countries to cross the border and fill up with the some of the cheapest petrol in the European Union.
The trend was first spotted by economists at PKO Bank Polski SA, the country’s largest lender, after Polish retail sales figures on Monday showed a 13.4% constant-price rise in fuels in April versus March. The data didn’t gel with the bank’s own data, which showed virtually unchanged personal-card transactions at filling stations last month. The above photo is of an Orlen fuel station, one of Poland's largest fuel retailers.
The fuel-sales jump “was likely due to increased demand from businesses or foreign entities,” said the economists, led by Piotr Bujak. “PKO customers’ card spending at gas stations remained stable in this period.”
From the start of April, Poland cut taxes on fuels and introduced a daily cap on prices at the pump to shield consumers from the energy-price fallout of the war in Iran. Finance Minister Andrzej Domanski said on Monday that Poland would most likely extend the program into June.
Full story Petrol Tourists Flock to Poland in Search of Cheap Fill Ups | Financial Post
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