Government regulation of fuel prices ended today after more than three months, and from today onwards, prices will be determined solely by market mechanisms. Analysts warn of an immediate price increase, with diesel potentially increasing by up to three crowns per liter. International media has highlighted the growing role of Daniel Křetínský as a key European acquisition player—The Economist ranked him among the three men building the largest pan-European empires.
Government regulation of fuel prices ended, meaning that fuel prices at domestic gas stations will once again be determined solely by market mechanisms after more than three months. According to analysts, this is likely to lead to an immediate price increase. The end of the reduced excise tax rate will primarily affect diesel, which could increase by up to three crowns per liter. Gasoline prices are also expected to rise by several tenths of a crown.
The end of price regulation comes at a time when tensions in the Strait of Hormuz have repeatedly threatened to raise oil prices on global markets in recent weeks. The government introduced the regulation in March as a response to rising fuel prices following the escalation of conflict in the Middle East. Drivers will now have to get used to higher prices at gas stations, and operators may react at different speeds depending on their own inventories and regional competition.
International media is paying attention to Czech entrepreneurs as key players in European business. The weekly magazine The Economist ranked Daniel Křetínský among the three men who are currently most significantly reshaping the ownership landscape of European industry and services. Křetínský's EP Group quadrupled its net profit last year to 110 billion crowns and significantly expanded its portfolio with the British postal service Royal Mail, Slovak power plants, and a partnership with TotalEnergies. According to The Economist, the group now intends to focus on integrating acquired activities and is looking for new opportunities on the continent.