Price trends for selected fuels and their dependence on oil prices

Fuel prices are influenced by factors that have a broad impact on the economy. The aim of this thesis was to evaluate the development of gasoline and diesel prices in the Czech Republic between 2018 and 2024 and to determine whether a statistically significant relationship existed between Brent crude oil prices and the prices of these fuels. To achieve this aim, a quantitative content analysis of secondary data, Pearson’s correlation analysis and a correlation heat map were used. The results showed substantial price fluctuations and a very strong positive correlation between crude oil prices and both gasoline and diesel prices. The findings indicate that the Czech fuel market is highly sensitive to global economic and geopolitical events. The research is limited by the monthly frequency of data, the linear nature of the correlation analysis and the absence of additional economic variables, creating opportunities for future studies using more advanced econometric models.