Fuel prices in the Czech Republic continued to decline over the past week, although at a slower pace compared to the previous week. The price of Natural 95 gasoline dropped to an average of 34.23 CZK per liter, the lowest since early October 2021. Diesel prices fell to an average of 33 CZK per liter, the lowest since July 2021. Analysts expect fuel prices to stagnate in the coming days.

Fuel prices in the Czech Republic have been gradually decreasing since late January. At that time, the average price of Natural 95 was around 36.80 CZK per liter, and diesel was about 36.20 CZK per liter. Compared to the previous year, the price of gasoline is now 6.14 CZK per liter cheaper, and diesel is 6.25 CZK per liter cheaper.

The fuel market has been influenced by a significant correction in oil prices since early April, driven by U.S. trade policies and recession fears. The weakening U.S. dollar has also played a role. However, oil prices have slightly increased in recent days, leading analysts to predict that fuel prices will likely stabilize near current levels.

Despite the recent declines, fuel prices in the Czech Republic remain among the lowest in Europe. Diesel is the third cheapest in the EU, after Malta and Bulgaria, while gasoline prices are the fourth lowest, following Bulgaria, Malta, and Cyprus. The cheapest fuel can currently be found in the Ústí nad Labem region, while the most expensive is in Prague.

Source: ceskenoviny.cz

Author: CzechTrade and CzechInvest Office in New York