Fuel prices drop by more than a crown from last week

Fuel prices in Czechia have fallen again since last week. Natural 95 gasoline is now selling for an average of CZK 44.41 per litre, CZK 1.41 less than a week ago, while the price of diesel has dropped by CZK 1.10 to an average of CZK 45.11 per litre, according to data from the company CCS, which monitors fuel prices. The cheapest fuel can be found at petrol stations in the Pardubice region, while it is the most expensive in Prague.

Despite the drop in prices, fuels are still significantly more expensive than a year ago, by CZK 10.63 per litre for petrol and CZK 13.46 per litre for diesel. Fuel prices rose sharply at the end of February when Russia launched its war on Ukraine, and have been fluctuating since then. Petrol started to become a little cheaper after the record highs it reached at the end of June, and​ the price of diesel has been decreasing since the beginning of July.

The government has instigated several measures to try to mitigate the rise in fuel prices. Among other things, from the beginning of June, VAT on gasoline and diesel fuel was reduced by CZK 1.50 per litre for four months. The cabinet is considering keeping the reduced tax on diesel permanently, to remain competitive with neighbouring countries.

Author: Anna Fodor