In the Czech Republic, fuel prices have been falling since last October, the decline stopped at the beginning of this year, when gasoline prices started to rise and the price of diesel stagnated. Prices have been at the same or similar level since around mid-January.
According to XTB analyst Jiří Tyleček, the current rise in fuel prices is a consequence of the tense situation on the oil market. “Traders are unsettled by the situation in the Middle East and factor the increased risk into prices. Subsequently, the prices of fuel in Rotterdam are significantly more expensive,” said Tyleček. He reminded that wholesale diesel prices are the highest since the beginning of November and gasoline prices are the highest since mid-October.
In addition, the rise in prices will continue, according to analysts. “In the coming week, we expect a further increase in the price of gasoline and diesel by several tens of pennies,” said Finlord company analyst Boris Tomčiak. According to Purple Trading analyst Petar Lajsko, gasoline prices should increase more strongly, because the use of diesel for heating purposes is decreasing due to warmer weather and cheap natural gas.
The cheapest fuel is filled by drivers in the Ústí Region, where a liter of gasoline costs 36.17 crowns on average. They sell diesel there for an average of 36.18 crowns. Conversely, the most expensive fuel is offered by pumps in Prague, where a liter of gasoline costs an average of 38.41 crowns. Diesel is refueled there for 38.49 crowns per liter.
In a year-on-year comparison, a liter of gasoline in the Czech Republic is now about one crown and ten shillings cheaper, while motorists paid almost one crown more per liter for diesel at the time.
Average fuel prices in the Czech Republic as of January 31, 2024 (in CZK/l):