Fuels in the Czech Republic have been getting cheaper since the beginning of October, gasoline was the cheapest in more than two years last week, diesel since last August.
According to analysts, the rise in oil prices is behind the reversal of the trend. “Oil halted its decline hand in hand with wholesale fuel prices. A further rise in geopolitical tension threatens a sharp rise in the price of black gold. In addition, the unfavorable development of the Czech crown makes fuel purchases more expensive for the entire distribution chain,” said XTB analyst Jiří Tyleček.
Also, according to Purple Trading analyst Petr Lasjek, due to the weaker krona and higher oil prices, fuels may become slightly more expensive in the coming days. “It should be less than tens of pennies,” claims Lajsek. However, he cautioned that the price of oil is notoriously volatile, so the situation can change quickly.
The cheapest gasoline is filled by drivers in the South Bohemian Region and the Ústí Region, where the average price per liter is CZK 35.10. Diesel is the cheapest in the South Bohemian Region, a liter is sold there for an average of 35.49 CZK. Conversely, the most expensive fuel is offered by pumps in Prague, where a liter of gasoline costs an average of CZK 38.18. Petrol is refueled there for 38.27 CZK per liter.
In a year-on-year comparison, according to CCS data, gasoline is now 57 halers per liter cheaper than a year ago, while motorists paid CZK 1.68 more per liter for diesel at that time.
Average fuel prices in the Czech Republic as of January 3, 2024 (in CZK/l):
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