Polish refiners hit by growing black market for fuels
March 24, 2014
Poland is suffering from an expanding shadow economy in fuels, with 15% of diesel oil sold last year coming from the black market, according to estimates from the Polish chamber of crude oil industry and trade (POPiHN).
The assumption is based on official statistics, which showed a rather incredible drop in fuel consumption in Poland in 2013.
According to the official numbers, fuel consumption shrank by 4% y/y to 24.9 million cubic meters, while diesel oil consumption shrank 6% to 13.4 million, a level last seen five years ago.
The black market hurts refiners, forcing them to increase exports, which are less profitable than domestic sales.