Refueling, gas station – illustrative photo.
Prague – Fuel prices in the Czech Republic are falling for the second week. Diesel became cheaper, the price of which fell below 37 crowns per liter, the last time it was cheaper about a year ago. It is currently sold at petrol stations for 36.87 kroner per litre, a week ago it was 59 kroner more expensive. A liter of the best-selling Natural 95 gasoline is now sold at gas stations in the Czech Republic for an average of 37.64 kroner, in the past week it has become cheaper by 16 pennies. This is according to data from CCS, which tracks prices.
Fuel prices in the Czech Republic have steadily decreased since the end of last October. In the first days of this year, prices rose, then began to fluctuate. According to analysts, fuels should continue to become cheaper in the following week, but in the longer term, prices can be expected to rise.
The price of diesel is thus currently falling more significantly compared to gasoline. According to Purple Trading analyst Petr Lajsko, the development on the Rotterdam stock exchange contributed to this, where it fell slightly in recent days. “There is enough diesel in Europe thanks to the significant reserves that the old continent created last year. In addition, refineries focused more on diesel, which is also why the price of gasoline is falling more slowly than that of diesel,” explained Lajsek, pointing out that the embargo has not yet had an impact on Russian fuels. A strong koruna also has a positive effect on fuel prices.
According to analysts, fuel prices should continue to decrease in the coming days. “Diesel prices could continue to decline faster, due to high inventories in Europe and also above-average warm weather on the European continent for this time of year,” XTB analyst Jiří Tyleček said. In addition to falling wholesale prices, he also sees an important role in the current price of Brent crude oil, which does not deviate from the development of recent weeks, and in the increase in stocks in the USA.
In the longer term, however, analysts expect rather a turn to increasing prices. At the same time, they draw attention to the increase in demand and the effect of the embargo on Russian fuels. “New suppliers of oil and diesel will certainly take advantage of the increase in demand for their products and push prices up,” says the head of 4Trans, Jaroslav Ton. In a few months' time, he therefore expects the price of diesel in particular to increase by up to one crown per liter.
The cheapest gasoline is filled by drivers in the South Bohemian region, where a liter costs 37.20 kroner on average. Diesel is the cheapest in the Ústí Region, a liter is sold there for an average of 36.09 crowns. Conversely, the most expensive fuel is offered by pumps in Prague, where a liter of gasoline costs an average of 38.87 crowns. Diesel fuel there costs 38.61 CZK per liter.
In a year-on-year comparison, gasoline is now 56 halers more expensive per liter than a year ago, when motorists paid 0.83 CZK less per liter for diesel.< /p>
Average fuel prices in the Czech Republic as of February 15, 2023 (in CZK/l):
Source: C CS