Fuel prices in the Czech Republic have been rising steadily since about mid-January, when the price of gasoline and diesel fuel was equal to about 36 crowns. Despite this growth, however, current prices are still lower than at the same time last year. Gasoline is now cheaper than a year ago by 71 pennies per liter and diesel by 45 pennies.

According to analysts, the tense situation on the oil market is still reflected in fuel prices. “Oil rose in price mainly due to tensions in the Middle East. In addition, at the end of January, extremely low temperatures prevailed in the US, which disabled part of the oil infrastructure and also reduced oil reserves. Drone attacks on oil refineries in Russia are not positive for the oil market. The global supply of oil is thus threatened,” said Purple Trading analyst Petr Lajsek. He also pointed to the negative influence of the weakening Czech crown.

The same factors should be reflected in the following days. “I think that the rising trend of fuel prices will continue,” said XTB analyst Tomáš Cverna. He reminded that due to the expected rate cut by the Czech National Bank, the koruna will probably continue to weaken, which will lead to further price increases. According to Cverna, the only positive for motorists are currently the refineries’ margins, which are now at stable levels. According to Lajsko, fuel prices should continue to rise by tens of pennies less in the coming days.

However, according to analysts, the increase in prices might not continue for long. “We can expect a slowdown, or even a complete stop in the growth of fuel prices,” says the head of 4Trans, Jaroslav Ton. Lajsek also expects a reversal of the trend during February, according to which fears about a possible escalation of the conflict in the Middle East should fade on the oil market. “On average, the price of gasoline and diesel could again fall below the level of CZK 37 per liter,” added Lajsek.

Drivers in the South Bohemian Region currently fill up with the cheapest fuel, where a liter of gasoline costs 36.66 crowns on average and a liter of diesel costs 36.68 crowns. On the contrary, the most expensive fuels are offered by pumps in Prague, where a liter of gasoline costs an average of 38.65 crowns and a liter of diesel costs 38.74 crowns.

Average fuel prices in the Czech Republic as of February 7, 2024 (in CZK/l):

End Natural 95 Nafta
CR 37,15 37,17
Prague 38,65 38,74
Central Bohemia 37,50 37,47
South Bohemian 36,66 36,68
Pilsen 37,28 37,37
Karlovy Vary 36,74 36,82
Ústí 36,73 36,83
Liberecký 36,90 36,89
Královéhradecky 36,70 36,74
Pardubice 36,88 36,83
Highlands 37,30 37,35
South Moravian 37,63 37,53
Olomouc 37,32 37,38
Zlínský 36,87 36,84
Moravian-Silesian 36,97 36,89