According to analysts, the reason for the different trend is the reduction of the excise tax on diesel from the beginning of 2021 by a crown. In the following days, they expect fuel prices to rise in the Czech Republic.
“Although fuel prices in our country fell slightly last week, rising oil prices are driving them up again. The value of a barrel of Brent oil has already exceeded $ 55, which means that Czech drivers have to reckon with paying extra for petrol and diesel. In addition, the future outlook remains uncertain, as current fuel prices do not yet take into account the cuts in mining that Saudi Arabia wants to resort to in February and March, “said Tomáš Voltr, CEO of Energy financial group.
A similar development is expected by Finlord analyst Boris Tomčiak. “In the coming week, we expect the price of gasoline to rise by ten to 15 pennies. The price of diesel should stagnate. The reduction in excise duty is largely covered by rising prices of Brent crude oil on world markets. Dollars are traded on the Rotterdam Commodity Exchange. The stronger the koruna against the US currency, the cheaper petrol and diesel can be at petrol stations in the Czech Republic.
“We can expect a rather slight increase in fuel prices in the Czech Republic in the coming weeks, which is mainly due to the rising price of oil on world markets. Fuel and the koruna’s exchange rate, which weakened to 21.50 this pair against the US dollar this week, will not save from the rise in price, “confirmed Purple Trading analyst Štěpán Hájek.
According to Trinity Bank chief economist Lukáš Kovanda, the rise in oil prices will be supported, among other things, by the growth in demand for fuels in the United States, which will stimulate the planned steps of the new US administration of President Joe Biden. Fuel prices will become more expensive in the coming weeks not only in the Czech Republic, but also in other European countries, he says.
“According to international comparisons, at the beginning of January 2021 petrol is cheaper than in the Czech Republic traditionally in Bulgaria or Romania, but also in Poland and somewhat untraditionally in Slovenia and Hungary. It is comparable in price in Austria. in Italy it is more expensive, “he said. “Diesel is cheaper than in the Czech Republic in countries such as Bulgaria and Romania as well as Poland. It is comparable in price in Austria. In Slovakia, Hungary, Slovenia, Germany, Croatia and Italy, the price of diesel is higher than in the Czech Republic.” Kovanda added.
The cheapest fuels are now in the Ústí nad Labem region. Gasoline there costs an average of CZK 27.47 / l, while diesel costs CZK 26.79 / l. On the other hand, the most expensive fuels are still offered by petrol stations in Prague, where petrol is on average for CZK 28.67 / l and diesel for CZK 28.20 / l. The price of petrol rose above the average of 28 crowns in Central Bohemia, the Vysočina Region and the Olomouc Region. Diesel is over 28 crowns only in Prague.
Prices in Prague remain the highest in the seventh district, with the same average for Natural 95 and diesel at CZK 29.50 / l. Gas stations continue to charge the least in Prague 3, on average CZK 28.06 / l for petrol and CZK 27.27 / l for diesel.
According to CCS, petrol is now 4.47 crowns per liter cheaper than a year ago, while motorists then paid 4.84 crowns per liter more for diesel.
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