Czechia: diesel price cap to rise by 69 hellers on Tuesday

Maximum prices for petrol and diesel in Czechia continue to climb. On Tuesday petrol can be sold for up to 37 hellers more than in recent days, while the diesel cap is 69 hellers higher.

The caps are announced by the Ministry of Finance in its price bulletin. On every working day it publishes them for the following day, and on non-working days the last announced price applies. The maximum prices do not apply to premium fuel. The ministry urges petrol station operators to use the caps only in exceptional cases and to try to keep prices below the set limit.

Why the regulation was brought back

The reintroduction of price regulation for petrol and diesel in Czechia was a response to the escalating conflict in the Middle East. Restrictions on Saudi oil supplies to European refineries and growing pressure on wholesale and retail prices also played a part.

Brent crude rose above $105.5 a barrel (CZK 2,295) on Monday morning, its highest level in more than two weeks. US WTI climbed above $92.5 (CZK 2,012). The market reacted to mounting tension in the Middle East.

On Sunday Saudi Arabia’s main airport came under attack again, and another tanker was attacked in the Strait of Hormuz. These incidents followed a phone call between the foreign ministers of Saudi Arabia and Iran and came amid renewed fighting in Yemen involving the Iran-backed Houthis, the Trading Economics portal reported.

Oil exports and Trump’s statement

Despite the risks, oil exports from the Persian Gulf remain relatively stable. Supplies have reportedly recovered to about 17.5 million barrels a day, roughly 98 percent of the pre-war level.

The market also took note of US President Donald Trump’s statement that Russia and Ukraine had agreed to an immediate energy truce. On Friday he wrote on Truth Social that Russia would immediately supply more than 300,000 tonnes of diesel to the American and global market, another 500,000 tonnes in November, then a million tonnes, and soon after a further three million tonnes.

Meanwhile, the International Energy Agency has urged governments to speed up the promised release of diesel reserves. It said the market situation requires immediate attention ahead of its meeting on 15 October.

Source: novinky.cz