Fuels in the Czech Republic have been getting cheaper since the beginning of October, before that they had risen in price for about four months. According to analysts, the drop in prices could continue due to the development on world oil markets.
According to Purple Trading analyst Petr Lajsko, the positive development on the oil market is behind the price reduction. According to him, the effects of the war in the Middle East no longer affect its price, so oil is at its lowest value since July. This is also reflected on the fuel exchange in Rotterdam, according to Lajesko, the Czech crown, which strengthened slightly against the euro, was also a positive factor.
According to analysts, the drop in prices should continue in the following days. XTB analyst Jiří Tyleček pointed out that the cheapening of oil has so far only partially manifested itself in fuel prices. “If the situation on the market does not change significantly, the fall in diesel and gasoline prices may continue, in the order of ten halers per liter. The price of gasoline could thus fall below the level of CZK 38 per liter in the next week, and I expect the price of diesel to be close to CZK 38.50 per liter,” says Tyleček.
According to the head of the 4Trans company, Jaroslav Ton, the movement of fuel against the current price should be rather minimal, by a maximum of 20 to 30 pennies. “This is good news for companies engaged in logistics, for which the current slight discounting and fluctuations in diesel prices represent a relief in one of the main cost items,” noted Ton.
Lajsek expects that the positive development on the fuel market could last until the end of November. “By the end of the month, the average price of diesel and gasoline may fall below the level of CZK 38 per liter,” he said. With lower temperatures, he expects a steeper drop in prices for gasoline, as the cheapening of diesel fuel will hinder its use for heating.
The cheapest gasoline is now filled by drivers in the Ústí Region, where a liter costs 37.52 CZK on average. Diesel is the cheapest in the Hradec Králové region, a liter is sold there for an average of CZK 37.91. On the contrary, the most expensive fuels have long been offered by pumps in Prague, where a liter of gasoline now costs an average of CZK 40.34 and diesel in the capital costs CZK 40.53 per liter.
Even in a year-on-year comparison, fuel is now significantly cheaper. Motorists now pay 3.39 crowns less for a liter of gasoline than a year ago, while motorists paid 6.25 crowns more for a liter of diesel.
Average fuel prices in the Czech Republic as of November 15, 2023 (in CZK/l):