This is according to data from CCS, which tracks prices. Gasoline is now the cheapest since July, diesel since August. According to analysts, the decline in prices will continue in the coming days, but the situation is uncertain in the longer term.
According to Purple Trading analyst Petr Lajsko, the reason behind the continued fall in fuel prices is the drop in Brent crude oil prices, whose prices have been under pressure for over a month due to record US production and the fading of fears of a conflict in the Middle East. “The fall in oil prices is gradually reflected in the development of the Rotterdam stock exchange. The development of the Czech crown is also positive, which took a second breath and strengthened despite expectations,” described Lajsek.
According to analysts, fuel prices should also continue in the coming days. “In the next seven days, the discounting of fuel will continue, to the extent of around 30 pennies per liter in the case of gasoline and 40 pennies in the case of diesel,” claims Trinity Bank Chief Economist Lukáš Kovanda, according to whom prices at gas stations will still be reduced of crude oil from the past weeks, as well as the drop in wholesale fuel prices on the commodity exchange in Rotterdam.
However, according to XTB analyst Jiří Tyleček, the potential for further significant decline is slowly closing. He pointed out that the next development will be decided by the OPEC meeting, which will discuss a possible reduction in production today, which could turn the price trend upwards again. Another important factor, according to Tyleček, will be negotiations on extending the exemption for the import of oil products from Russia to the Czech Republic. “Not extending it would mean the risk of an increase in the price of fuel by up to several crowns per liter. The primary problem would be the absence of diesel imports from Slovak Slovnaft,” said Tyleček.
The cheapest fuel is filled by drivers in the South Bohemian region, where a liter of gasoline costs 36.83 CZK on average. They sell diesel there for an average of CZK 37.04. Conversely, the most expensive fuel is offered by pumps in Prague, where a liter of gasoline costs an average of CZK 39.29. Diesel fuel costs an average of CZK 39.32 per liter in the capital.
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. In a year-on-year comparison, gasoline is about two crowns cheaper, while diesel was more than three crowns more expensive at the end of November last year than it is now.