Fuel prices in the Czech Republic have been falling since last October, the decline stopped at the beginning of this year. Analysts do not expect significant price fluctuations in the coming days.
Compared to the situation a year ago, the price of gasoline in the Czech Republic is now only slightly lower, while drivers save more on diesel. The average price of Natural 95 last year in mid-January compared to this year was about a dime higher, and fueling was more expensive by more than 1.20 kroner per liter of diesel.
According to XTB analyst Jiří Tyleček, the current development of fuel prices reflects the development of the oil market, where prices also do not move significantly. “However, we are seeing increased volatility in oil, which is related to the tense events in the Near and Middle East. However, the price is kept down by sufficient supply on the global market and lower than expected demand,” said Tyleček.
Analysts do not expect sharp changes in fuel prices in the coming days either. “Once again, we will be dealing with movements in the lower tens of pennies at most,” said Purple Trading analyst Petr Lajsek. According to him, diesel could become cheaper in the coming days due to the low demand for heating oil. The head of the 4Trans company, Jaroslav Ton, also sees more significant price fluctuations as unlikely, but predicts a rather moderate increase in prices by the end of January.
At the same time, however, analysts agree that further developments on the oil market are very uncertain, especially due to the unstable situation in the Middle East. According to them, in the event of further escalation, the price of oil can quickly rise significantly, which would also cause fuel prices to fluctuate a lot. In the Czech Republic, according to analysts, the weakening koruna can worsen the situation.
The cheapest gasoline is now filled by drivers in the Ústí Region, where a liter costs 35.47 CZK on average. Diesel costs the least in the South Bohemian Region, an average of 35.41 CZK/l. Gas stations in Prague continue to offer the most expensive fuel. A liter of Natural 95 in the capital is sold on average for 38.13 crowns, diesel for 38.09 CZK.
Average fuel prices in the Czech Republic as of January 17, 2024 (in CZK/l):