Fuel prices in the Czech Republic have been decreasing since the beginning of October, according to data from CCS, a company that monitors prices. This comes after a period of approximately four months of price increases. Analysts predict that the downward trend in prices will continue in the coming days.
Currently, the cheapest gasoline can be found in the Ústí nad Labem Region, where the average price per liter is 38.18 Czech koruna. The cheapest diesel fuel is in the Hradec Králové Region, where it is sold for an average of 38.97 koruna per liter. On the other hand, the most expensive fuel can be found in Prague, where the average price for a liter of gasoline is 40.82 koruna, and diesel is sold for 41 koruna per liter.
According to analyst Tome Cverny from XTB, the decrease in prices is mainly due to the easing of tensions in the oil markets and the decline in the price of Brent crude oil. Cverny also attributes this to the recent ceasefire in the Gaza Strip and the decrease in fuel prices on the Rotterdam stock exchange. However, the weakening Czech koruna has prevented a more significant decrease in fuel prices.
Analysts expect a slight decrease in fuel prices to continue in the Czech Republic in the coming days. Purple Trading analyst Petr Lajsek predicts that the recent correction in oil prices will have the most significant impact. Gasoline prices could drop by several tens of halers per liter over the next five weeks, while diesel prices will decrease more slowly due to the increasing demand for heating oil during the upcoming winter season. Lajsek also warns that any escalation of the conflict in the Middle East could quickly halt the decrease in fuel prices.
Jaroslav Ton from 4Trans also highlights the potential consequences of the ongoing conflict in Israel. In addition to the increase in oil prices, escalation could weaken the Czech koruna and the euro, leading to further price increases. In the short term, fluctuations in fuel prices are expected to be around 20 to 30 halers per liter, which is good news for financial planning for logistics companies, as fuel is one of their main cost items, Ton added.
In a year-on-year comparison, gasoline is currently 3.70 koruna per liter cheaper, while diesel prices have decreased by 7.70 koruna per liter.
Average fuel prices in the Czech Republic as of June 25, 2023 (in CZK/l):
Region | Natural 95 | Diesel
Prague | 40.82 | 41.00
Central Bohemian | 39.62 | 39.94
South Bohemian | 38.42 | 39.09
Plzeň | 39.22 | 39.63
Karlovy Vary | 38.74 | 39.32
Ústí nad Labem | 38.18 | 39.07
Liberec | 38.75 | 39.25
Hradec Králové | 38.28 | 38.97
Pardubice | 38.73 | 39.21
Vysočina | 39.52 | 39.90
South Moravian | 39.62 | 39.83
Olomouc | 39.40 | 39.87
Zlín | 38.68 | 39.26
Moravian-Silesian | 38.85 | 39.40
Source: CCS
Aza strip and the subsequent halt in attacks on oil facilities in the Middle East have also contributed to the decrease in fuel prices
Fuel prices in the Czech Republic have been on a steady decrease since October, according to data from CCS, a company that monitors prices. This is a significant change following four months of increasing prices. Experts are predicting that this downward trend will continue in the coming days.
Currently, the most affordable gasoline can be found in the Ústí nad Labem Region, with an average price of 38.18 Czech koruna per liter. The cheapest diesel fuel can be found in the Hradec Králové Region, selling for an average of 38.97 koruna per liter. On the other hand, Prague offers the most expensive fuel, with an average price of 40.82 koruna per liter for gasoline and 41 koruna per liter for diesel.
Analyst Tome Cverny from XTB attributes the decrease in fuel prices mainly to the easing of tensions in the oil markets and the decline in the price of Brent crude oil. Furthermore, Cverny points out that the recent ceasefire in the G
That’s great news! Hopefully it will help ease the financial burden for drivers.