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Impact of fuel price changes on the perception of the financial situation of households in Poland
1
Lublin University of Technology, Faculty of Management
These authors had equal contribution to this work
Submission date: 2023-11-22
Acceptance date: 2023-12-01
Publication date: 2023-12-18
JoMS 2023;54(Numer specjalny 5):269-290
KEYWORDS
TOPICS
ABSTRACT
Objectives:
The aim of the article was to assess the impact of fuel price changes on households' perceptions of their financial situation in Poland.
Material and methods:
The survey was conducted using the questionnaire method on a group of 1,000 randomly selected Polish residents. The questionnaire contained 26 questions and the survey was carried out from 16 January to 15 February 2023. The obtained results of the survey were subjected to statistical tests in order to verify the set hypotheses.
Results:
The results obtained prove that dynamic changes in fuel market prices affect the functioning of households. They increase the burden on the household budget, influence the decision to change petrol stations, as well as causing the need to reduce fuel purchases in order to repay debts.
Conclusions:
Changes in fuel prices and the uncertain socio-economic environment affect the financial situation of households. Rapid increases can put undue strain on the household budget. Households should carefully analyse their budgets and adjust their spending to their current possibilities in order to prevent a deterioration in their financial situation, which may subsequently cause a slowdown in the overall economy. In addition, given the recent developments related to the increase in energy prices and the environmental trend in transport, it seems important to carry out research on the impact of these factors on the burden on the household budget and how to seek savings.
The aim of the article was to assess the impact of fuel price changes on households' perceptions of their financial situation in Poland.
Material and methods:
The survey was conducted using the questionnaire method on a group of 1,000 randomly selected Polish residents. The questionnaire contained 26 questions and the survey was carried out from 16 January to 15 February 2023. The obtained results of the survey were subjected to statistical tests in order to verify the set hypotheses.
Results:
The results obtained prove that dynamic changes in fuel market prices affect the functioning of households. They increase the burden on the household budget, influence the decision to change petrol stations, as well as causing the need to reduce fuel purchases in order to repay debts.
Conclusions:
Changes in fuel prices and the uncertain socio-economic environment affect the financial situation of households. Rapid increases can put undue strain on the household budget. Households should carefully analyse their budgets and adjust their spending to their current possibilities in order to prevent a deterioration in their financial situation, which may subsequently cause a slowdown in the overall economy. In addition, given the recent developments related to the increase in energy prices and the environmental trend in transport, it seems important to carry out research on the impact of these factors on the burden on the household budget and how to seek savings.
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