Fuel price caps take effect in Czechia

Government-imposed caps on fuel prices take effect in Czechia on Thursday in response to a sharp rise in prices. Petrol stations can now charge a maximum of CZK 48.72 per litre for diesel and CZK 46.14 for petrol. Analysts expect the measure to have the biggest impact at motorway filling stations, with diesel prices likely to fall more significantly. The government has also cut the excise duty on diesel from CZK 9.95 to CZK 8.011 per litre. Fuel prices have risen sharply amid the Middle East conflict and the resulting disruption to oil shipments through the Strait of Hormuz.