According to XTB analyst Jiří Tyleček, fuel prices are a consequence of the tense situation on the oil market. “Traders are unsettled by the situation in the Middle East and factor the increased risk into prices. Subsequently, they increase fuel prices in Rotterdam,” he explained. At the same time, he also recalled the negative influence of the weakening koruna. According to Tyleček, wholesale diesel prices are currently the highest since the end of November, while gasoline is the most expensive since the end of October.
Analysts expect fuel prices to continue rising in the following week. According to Purple Trading analyst Petar Lajsko, it will again be lower than tens of pennies per liter. “I expect higher growth for gasoline, because together with higher temperatures and low gas prices, the demand for diesel for heating purposes is decreasing,” said Lajsek. According to him, diesel fuel should soon be cheaper than gasoline again, for the first time since last October.
Due to the current rise in oil prices, the head of 4Trans Jaroslav Ton also expects prices to rise. In the coming days, he anticipates delays of another 30 to 50 pennies. “However, a significant price movement is unlikely in the current situation due to the dynamics of the global economy and politics,” he pointed out. Tyleček reckons that the upward pressure on prices for diesel and petrol will likely last for the next few weeks. “So it might pay to fill up as soon as possible,” he added.
The cheapest gasoline is filled by drivers in the South Bohemian Region, where a liter costs 35.91 kroner on average. Diesel is the cheapest in the Hradec Králové region, a liter is sold there for an average of 35.86 crowns. Conversely, the most expensive fuel is offered by pumps in Prague, where a liter of gasoline costs an average of 38.36 crowns. Diesel is refueled there for 38.40 crowns per liter.
Fuel prices in the Czech Republic have been falling since last October, the decline stopped at the beginning of this year. In a year-on-year comparison, according to CCS data, gasoline in the Czech Republic is now 30 halers per liter cheaper than a year ago, while motorists paid roughly 90 halers more per liter for diesel at that time.
Average fuel prices in the Czech Republic as of January 24, 2024 (in CZK/l):