According to Purple Trading analyst Petr Lajsko, fuel prices have been affected by the continued drop in the price of oil on the market in recent days. “The war premium that oil prices gained after the outbreak of the conflict in the Middle East has already faded from it. Currently, the price of Brent oil is even below the level before the start of the war,” said Lajsek.
According to him, the reason behind its cheapening is mainly the growth of concerns about the health of the global economy. Conversely, the development of the Czech crown, which is important for the import of oil and fuel, had a negative effect.
According to analysts, the situation on the market is leading to further reductions in fuel prices. “In the coming week, we expect further discounting. There should be a price drop of more than 50 halers for gasoline,” said Finlord manager Boris Tomčiak. He pointed out that in the previous days, European wholesale margins fell for gasoline, on the contrary, they rose slightly for diesel.
Oil is the cheapest in more than three months
According to XTB analyst Jiří Tyleček, fuel prices could fall to August levels if the fall in crude oil from the last few days is sustained. “That means within the range of 37 to 38 crowns per liter of diesel and gasoline,” said Tyleček. According to him, the development of the market indicates a faster decline in gasoline, while the warm weather, on the other hand, indicates a decrease in the price of diesel.
Lajsek also expects continued price reductions, according to which cheaper oil should continue to affect prices. “The average price of diesel and gasoline could thus fall below CZK 38 per liter,” claims Lajsek. At the same time, he warned against a further escalation of the conflict in the Middle East, which could reverse the downward trend in prices.
Gas stations in Prague offer the most expensive fuel. A liter of natural gas costs 40.72 crowns on average in the capital, and the same amount of diesel costs 40.94 crowns. In all other regions, the average fuel prices are below 40 crowns per liter, both for natural and diesel.
Drivers fill up with gasoline the cheapest in the Ústí Region, with an average price of 38 crowns per liter. Diesel is the cheapest in the Hradec Králové Region, at 38.76 crowns on average.
Fuels in the Czech Republic have been getting cheaper since the beginning of October. Before that, it was increasing in price for about four months. In a year-on-year comparison, fuel is now significantly cheaper. A year ago, motorists paid approximately three crowns more for gasoline and diesel was more expensive by 6.90 crowns.