Fuel prices reach new record high

Fuel prices in the Czech Republic are at a new all-time high, with a litre of the most popular Natural 95 petrol having risen by 27 halers to CZK 47.96 per litre within a week. The price of diesel has risen even more dramatically, rising by CZK 1.06 and now costs CZK 48 per litre on average, although it has not yet surpassed its record in mid-March of CZK 49.60 per litre.

Fuel prices began to rise in late February and March following the launch of the Russian invasion of Ukraine. The government has taken several measures to try to counteract the rise in fuel prices. Among other things, since the beginning of June, it has reduced the excise duty on petrol and diesel by CZK 1.50 per litre for four months. So far, however, these measures have been ineffective, and fuels are more expensive than before the excise tax cut.