Fuels have been getting cheaper since the beginning of October, after they had risen in price for about four months. The increase in prices accelerated significantly at the beginning of August, when the increase in excise duty on diesel fuel by 1.50 kroner per liter contributed to it. In a year-on-year comparison, gasoline is now about three crowns cheaper than a year ago, while motorists paid 6.70 crowns more per liter for diesel.
According to Purple Trading analyst Petr Lajsko, several factors are behind the discounting. The main one is the correction on the oil market, which became significantly cheaper in the first days of October. On the other hand, the weakening Czech crown has a negative effect. However, Lajsek also drew attention to the fact that after the conflict in the Middle East, the price of oil is rising again, and the lowering of fuel prices could gradually decrease in intensity.
In the coming days, the decline in prices should continue, albeit at a slower pace. According to Lajsko, it will again be more pronounced for gasoline, the price of which could decrease by tens of pennies next week. According to Lajesko, the price of diesel will fall more slowly, because with the coming winter, the demand for it for heating purposes will increase again. The chief economist of Trinity Bank Lukáš Kovanda also expects a discount next week. “In the next seven days, gasoline will become cheaper, in the range of around 20 pennies per liter, while diesel, due to the beginning of the heating season, will be cheaper, by about ten pennies per liter,” he said.
On the contrary, according to XTB analyst Jiří Tyleček, the Czech Republic has experienced the biggest discounting at the moment. At the same time, he pointed to the increase in the price of oil, while the current geopolitical situation and dynamics on the market, according to him, suggest that prices will remain high. In the next week, he therefore expects a gradual return of fuel prices above 40 kroner, which, according to him, is supported by the weak koruna in addition to rising oil prices.
The cheapest fuel is filled by drivers in the South Bohemian Region, where a liter of gasoline costs 38.81 crowns on average. They sell diesel there for an average of 39.35 crowns per liter. On the contrary, the most expensive fuels are offered by pumps in Prague, where a liter of gasoline costs an average of 41.03 crowns, and diesel fuel there costs 41.13 crowns per liter.
Average fuel prices in the Czech Republic as of October 18, 2023 (in CZK/l):