Fuel Price Drop Halts in the Czech Republic

The decrease in fuel prices in the Czech Republic, which had been ongoing for approximately three months, has stopped. In the past week, petrol and diesel prices have slightly increased. The most sold petrol, Natural 95, is currently being sold at petrol stations at an average price of 35.86 CZK per liter, two hellers more expensive than the previous week. Diesel prices have risen by three hellers per liter, with the average price now being 36.18 CZK. This information is based on data from the CCS company, which monitors these prices.

Fuel prices in the Czech Republic have decreased since the beginning of October. Last week, petrol was the cheapest in over two years, and diesel was at its lowest price since August previous year.

According to analysts, the reversal in the trend is primarily due to the rise in oil prices. “Oil has stopped its weakening hand in hand with wholesale fuel prices. The further rise of geopolitical tensions threatens a sharp price rise for black gold. In addition, the unfavorable development of the Czech crown increases the cost of fuel purchases for the entire distribution chain,” says XTB analyst Jiří Tyleček.

Similarly, Purple Trading analyst Petr Lajsek suggests that fuel prices may continue to increase slightly in the coming days due to the weaker crown and higher oil prices. “It should be a matter of lower tens of hellers,” says Lajsek. However, he points out that the price of oil is notorious for its high volatility so the situation can change quickly.

The cheapest petrol can be found in the South Bohemian and the Ústí nad Labem regions, where a liter averages 35.10 CZK. Diesel is the most affordable in the South Bohemian region, selling at an average price of 35.49 CZK per liter. On the other hand, the most expensive fuels can be found in Prague, where a liter of petrol costs an average of 38.18 CZK, and diesel is sold for 38.27 CZK per liter.

In a year-over-year comparison, petrol is now 57 hellers per liter cheaper than it was a year ago, according to CCS data. Last year, motorists paid 1.68 CZK more per liter for diesel.