Fuel prices in the Czech Republic have been falling for the second week in a row, with the average price of Natural 95 gasoline dropping by seven halers to 36.22 crowns per liter and diesel becoming cheaper on average by 19 halers to 37.29 crowns per liter. This follows data from CCS, which monitors fuel prices. However, analysts expect that this trend will reverse in the longer term, with gradual price increases predicted as early as the end of January.

Fuel prices in the Czech Republic have been steadily decreasing since the end of October last year, only becoming more expensive in the first days of this year. Despite the more than two-month drop in prices, fuel is still more expensive than at the same time last year.

The main factors that influence fuel prices are the stability of oil prices, wholesale fuel prices, the exchange rate of the koruna, and demand for energy. In the coming days, the decline in fuel prices is likely to slow down, with an embargo on the import of Russian fuels into the EU set to come into effect on February 5th.

Some analysts predict that fuel prices could even rise by the end of January, with an increase in the price of oil and low retail margins of gas stations being cited as reasons.

Average fuel prices in the Czech Republic as of January 18, 2023 (in CZK/l):

Article by Prague Forum