Oil prices in the Czech Republic have once again decreased, albeit at a slower pace compared to the previous week. According to data monitored by CCS, a company that tracks fuel prices, the average cost of a liter of oil has dropped by nine Czech haléřů to 31.04 Kč/l. This week, diesel fuel has reached below 31 Kč per liter for the first time since July 2021. However, the average price of Natural 95 gasoline remains unchanged at 36.52 Kč/l.

The downward trend in oil prices in the Czech Republic began in early February when a liter was being sold for over 37.70 Kč. The average price of gasoline had been consistently declining for about a month until last week. Currently, both gasoline and diesel fuels are significantly cheaper compared to the prices seen a year ago, with gasoline being 9.66 Kč less expensive and diesel being 15.20 Kč cheaper.

Drivers in the South Bohemian region of the Czech Republic enjoy the lowest fuel prices. In this area, the average cost of a liter of gasoline is 36.15 Kč, while diesel fuel is priced at 30.25 Kč per liter. On the other hand, fuel prices in Prague, the capital city, remain the highest in the country. In Prague, the average cost for a liter of gasoline is 37.50 Kč, while diesel is priced at 32.92 Kč per liter.

The decrease in oil prices provides some relief to drivers and may positively impact transportation costs for businesses and individuals. However, it is essential to note that fuel prices can fluctuate based on various factors such as global oil prices, exchange rates, and local taxes. Consumers are advised to monitor fuel prices regularly and take advantage of favorable market conditions when planning their fuel purchases.

Article by Prague Forum