Government agrees increase in reserves of oil products

The government has agreed to increase Czech reserves of oil products from 90 to 100 days over the next two years in line with new EU directives. The decision will cost the state 4.4 to 4.7 billion crowns, according to the proposal. The increase is reportedly necessary due to changes in the method of calculating reserves, which puts current oil product reserves at less than the legally required 90 days.