Fluctuation of Liquid Fuels Prices in 2012-2022 and Its Causes
Purpose: The aim of this paper is to identify the economic factors that have the greatest impact on fuel prices and to analyze fuel price fluctuations on the Polish and European markets. The conducted research is a preliminary stage to determine the extent to which changes in fuel prices affect the operational activities of individual transport companies. Design/Methodology/Approach: The research aimed to determine changes in fuel prices in the context of transport companies' activities and identify key economic factors influencing these prices. The scope of the study included the analysis of historical data on fuel prices in 2012-2022. This data comes from industry reports, government publications, and international energy organizations' databases. Findings: The statistical data analysis indicates significant changes in the demand for diesel oil in Poland over the last ten years. Diesel consumption increased by over 50%, and at the same time, the share of imported oil increased. The main factors influencing this situation are the development of transport and increased mobility in society, which causes a growing demand for fuels. Polish refineries cannot meet this demand, leading to greater import dependence. Practical implications: A tangible effect of the research is to provide recommendations for maintaining the stability of fuel prices on the market. In this respect, the following actions should be mentioned: monitoring global and local trends in oil demand and supply, adapting energy policy to the dynamically changing international situation, strengthening domestic refining capacity to reduce dependence on imports, investing in alternative energy sources to reduce dependence on oil, supporting research and innovation in the field of energy efficiency and welding technologies, development of storage and distribution infrastructure for energy raw materials. Originality: To sum up, data analysis on diesel prices indicates high variability of the fuel market in Poland, resulting from numerous economic, geopolitical, and technological factors. To improve price stability and reduce dependence on external suppliers, it is necessary to strengthen domestic production capacity, develop alternative energy sources, and constantly monitor global market trends.