Czech fuel price caps extended to end-November

The Czech government said Monday it had extended fuel price caps until the end of November as Europe faces higher fuel costs linked to the Middle East war.

The finance ministry said the government approved a proposal to extend three measures: fuel price ceilings, cuts to excise tax on diesel and limits on the maximum profits taken by petrol stations.

Finance Minister Alena Schillerova said on X that the move was intended to protect companies from rising costs and help contain inflation.

The measures were first in place from April to July, then lifted and reinstated for one month from October 1. The government also introduced a new tax on refineries at that time.

The Czech Republic sets maximum petrol station prices daily at 1300 GMT for the following day. On Monday, it set Tuesday's ceiling at 48.96 koruna, or $2.24, per litre of diesel and 44.47 koruna, or $2.04, per litre of petrol.