Czech motor fuel prices will be capped from Wednesday, with the cap being updated daily, the Finance Ministry announced on Tuesday, against the backdrop of the energy crisis resulting from the Iran war.
The ministry has set the initial cap on the price for petrol at 43.15 koruna ($2.04) and for diesel at 49.59 koruna.
Other measures passed by the government include limiting margins charged by fuel companies and cutting the tax on diesel.
The ministry said the aim of the measures was to curb general fuel price rises and to remove local pricing extremes. The last was seen as referring to Prague and motorway fuel stations, where the highest prices are generally charged.
The country is well served with fuel stations operated by Poland's Orlen, Hungary's MOL, and state-run Cepro under its Eurooil and Robin Oil brands.
Relatively low prices have led German drivers to cross the border to fill up.
LATEST POSTS
- 1
Nine in 10 German industrial firms expect Iran war to hit business - 2‘Aid for Ukraine’ pierogi fundraiser event
- 3The Most Compelling Innovation Advancements Somewhat recently
- 4Defeating An inability to embrace success in Scholarly world: Individual Victories
- 5Genesis Marks 10th Anniversary With Magma GT Concept Aimed at High-Performance Flagships
- Beneficial Growing Conditions in West Africa Weigh on Cocoa Prices
- New science points to 4 distinct types of autism
- Wizz CEO: We’re going to invest $1 b. in Israeli market
- Mossad unveils network of Hamas terror infrastructure across Europe
- SpaceX's 1st 'Version 3' Super Heavy Starship booster buckles under pressure during initial tests
- IndiGo lands IATA chief Willie Walsh as new CEO
- The Secret Destinations Amex Says Will Be More Popular Than Bali by 2026
- Fossils from China show complex life evolved millions of years earlier than once thought
- UAE-backed Yemeni Southern Transitional Council denies disbandment rumors
