Czech drivers can expect some relief at the pump, thanks to a combination of cheap oil and a strong Czech crown. According to Finlord analyst Boris Tomčiak, both gasoline and diesel prices could decrease by up to 80 hellers per liter within the next two weeks.
Current statistics from CCS show Natural 95 gasoline averaging at 34.08 crowns and diesel at 32.71 crowns per liter. Some stations are already offering even better deals – Tank ONO has been selling diesel for 29.90 crowns, while Globus hypermarket stations offer it at 30.70 crowns.
The price drop is primarily driven by wholesale prices, which fell by about 60 hellers per liter last week. When combined with current oil price trends, they could decrease by up to one crown per liter. However, refinery margins are preventing even steeper price drops, with current margins at 18 dollars per barrel for diesel and 16 dollars for gasoline.
The situation is further influenced by Brent crude oil prices dropping below 60 dollars per barrel – the lowest since early 2021. This decline comes as OPEC+ plans to increase production by 411,000 barrels daily from June. Additionally, the Czech crown has stabilized at 22 crowns per dollar, marking a significant decrease from February’s 24.50.
However, economist Štěpán Křeček warns that this downward trend might reverse before the holiday season when increased demand from vacation-bound drivers typically pushes prices higher.