Fuel prices are expected to rise by about 2.5% at the beginning of the year due to rising oil prices and an increase in value-added tax, said XTB analyst Marek Nemky. According to him, the increase is mainly supported by expectations of higher demand in China following potential government stimulus for the economy. On the other hand, the United States continues to boost oil production, which reached an all-time high of 13.46 million barrels per day in October 2024. Wholesale fuel prices are following the trend of oil prices, meaning that price increases are likely to be reflected at gas stations. Long-term forecasts for the oil market suggest that there could be an oversupply in 2025, which should prevent prices from rising significantly.
Source: TASR
