Fuel prices in the Czech Republic continue to fall, diesel is the cheapest in more than a year

Fuel prices in the Czech Republic continue to fall, diesel is the cheapest in more than a year

Fuel prices in the Czech Republic continued to fall, diesel is the cheapest for more than ce than a year

Refueling, gas stations – illustrative photo.

Prague – The average price of diesel in the Czech Republic is the lowest in 13 months. Over the last week, diesel has become cheaper by 22 halers to 35.86 crowns per liter. During the same period, the price of gasoline fell by nine halers to CZK 37.29 per liter, which is the lowest value in about a month and a half. This follows from data from CCS, which monitors fuel prices. According to analysts, the decline in prices will continue.

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Fuels in recent days, according to XTB analyst Jiří Tyleček, have responded to the drop in oil prices and wholesale fuel prices. According to him, the Czech currency also had a positive effect. “The two best-selling fuels are thus the cheapest in the last more than a year,” said Tyleček. At the same time, according to Jaroslav Ton, the head of 4Trans Factoring, the reduction in the price of diesel indicates that supply exceeds demand, which is also confirmed by recent reports of an excess of oil reserves on world markets.

In the coming weeks, the decline in fuel prices should continue, analysts expect. “Oil and fuel prices have fallen, and even the negative impact of the weakening of the koruna should not reverse this,” said Tyleček. In the next week, however, he does not expect a significant discount, according to him, prices could fall in the order of units of ten halary. “Usually, it takes a week to 14 days before the drop in wholesale prices begins to be reflected more significantly in the prices for motorists. However, depending on the development of the situation on the markets, we can expect a discount of up to a few crowns in the next few weeks,” says Tyleček. Ton also estimates a similar development, and according to him, the trend of falling prices in the coming months may strengthen the pressure to reduce emissions. “This could lead to a greater decrease in demand for fossil fuels in the longer term,” he added.

The cheapest gasoline is filled by drivers in the Hradec Králové region, where a liter costs 36.79 crowns on average. Diesel is the cheapest in the South Bohemian Region, a liter is sold there for an average of 35.12 crowns.

On the contrary, the most expensive fuel is offered by pumps in Prague, where a liter of gasoline costs an average of 38.69 crowns. Petrol is refueled there for 37.85 CZK per liter.

Fuel prices in the Czech Republic have steadily decreased since the end of October last year. In the first days of this year, prices rose, then began to fluctuate and have been falling since the beginning of the second week of February.

The average price of Natural 95 is currently about 8.40 crowns lower than it was a year ago. In a year-on-year comparison, diesel is 12.50 crowns cheaper.

Average fuel prices in the Czech Republic as of March 15, 2023 (in CZK/l):

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Region Natural 95 Diesel
ČR 37.29 35.86
Prague 38.69 37.85
Central Bohemia 37.73 36.35
South Bohemia 36, 87 35.12
Pilsenský 37.29 35.82
Karlovary 36.98 35.56
Ustice 36.92 35.45
Liberecky 37.03 35, 57
Královéhradecký 36.79 35.29
Pardubicky 37.05 35.42
Vysočina 37.47 36.05
South Moravian 37.56 36.23
Olomoucky 37.56 36.25
Zlínský 36, 94 35.27
Moravian-Silesian 37.15 35.78

Source: CCS