Fuel prices down again, lower than a week ago

Fuel prices at domestic petrol stations decreased
again in the past week, but the fall was smaller than in the previous week,
and the price of top-selling petrol Natural 95 was down 21 hellers to
CZK 22.27 a litre on average, according to CCS.

Diesel price fell by 23 hellers to Kc23.99/l.

Colosseum analyst Petr Cermak ascribes the fall in fuel prices mainly to
low oil prices a the turn of the year. This was the last price fall for
some time and a price increase is likely to follow, he said.

"Czech drivers will see a larger growth in petrol and diesel prices this
week. The hike is likely to be in the order of several tens of hellers," he
added.

The prices will also grow due to the moderately weakening Czech crown.

Prices of other fuels are decreasing as well. LPG price sank by 61 hellers
to Kc13.89 a litre in the last two weeks, while CNG price added one heller
to Kc16.11 a cubic metre.

One cubic metre of compressed natural gas CNG corresponds to one litre of
petrol.

Trading on global oil markets was stormy last week. Oil first climbed up to
a level around $50 a barrel, and in the middle of the week returned to $40
a barrel.

Prices of petrol and diesel in Rotterdam reacted to the price increase, and
prices at domestic petrol stations are derived from these prices, Cermak
said.

Average fuel prices as of January 11, 2009

Source: CCS