Diesel costs the same as gasoline for the first time since July

Diesel costs the same as gasoline for the first time since July
Diesel costs the same as gasoline for the first time since July

Fuel prices in the Czech Republic are currently among the lowest in Europe.

Diesel at some gas stations costs the same as gasoline for the first time since last July. The domestic network of gas stations Tank ONO, which is the long-term price leader of the market, today raised the price of a liter of Natural 95 by 40 pennies to CZK 35.90 per liter. Diesel is now at the same value. The last time the price was the same was in mid-July last year. Since then, both fuels have experienced completely different developments.

During September, the price of one liter of both fuels differed by almost 6 crowns. At the same time, not only the racks at Tank ONO, but also the data from the purchasing alliance Axigon show that the difference is closing. “The difference in the overall price of diesel and gasoline has been decreasing rapidly for holders of fuel cards provided by us since the beginning of the year. Even in the first week it was a whole one crown, in the last week the difference was only 35 halers per liter of fuel. Currently, the situation has completely turned around and Natural 95 is already more expensive than diesel,” describes Damir Duraković, CEO of the Axigon purchasing alliance.

The price of oil is falling

Since the invasion of Ukraine by Russia, the fuel market has experienced a series of large fluctuations. In general, a higher price of diesel fuel is quite common during the winter months, historically in some years a liter of diesel fuel was up to two crowns more expensive. The reason is usually the increased demand for heating oil, because heating oil has the same composition as diesel fuel and is still a widespread source of heat in many countries.

According to Boris Tomčiak from the Finlord company, diesel supply problems will persist in Europe. A ban on the import of products from Russia will also come into force from February. European refineries do not have sufficient capacity to produce diesel. Therefore, its import from the Persian Gulf, Asia or the United States must increase. In January, 1.7 million barrels of diesel should be imported into the EU daily. After the embargo on the import of products from Russia, it will be necessary to replace around 700 thousand barrels of Russian diesel.

However, oil prices on world markets are falling. Concerns about a global economic slowdown and an expected increase in U.S. oil inventories outweighed hopes of a recovery in fuel demand in China, the world’s largest oil importer.

Fuel in the Czech Republic is currently among the cheapest in Europe. From the surrounding countries, drivers will only fill up cheaper in Poland or Slovenia, and that only in the case of petrol.

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PHM Tank ONO prices

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The article is in Czech

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