August: Household Energy Prices Slightly Decreased Overall

Overall, the energy price index (EPI) of the energy agency showed a decrease of 0.4 percent compared to the previous month, while prices increased by 5.9 percent year-on-year.

The general inflation (consumer price index, CPI) was at 4.1 percent during the same period. The main price driver year-on-year was still electricity. From July, electricity prices rose by 0.4 percent, with a year-on-year increase of 37.2 percent. The main reasons for the significant year-on-year increase were primarily higher network charges and the expiration of government support. Natural gas became on average 0.1 percent more expensive compared to the previous month, but compared to August 2024, there was a price decrease of 2.8 percent. The prices for district heating remained largely stable, decreasing by 0.1 percent compared to July, with a year-on-year increase of 0.1 percent.

Fuels and heating oil significantly cheaper

Meanwhile, there were significant price decreases for fuels and heating oil. The crude oil markets have been in a downward trend since this summer, "geopolitical uncertainties and supply expansions by OPEC+ are dampening prices and are impacting the European fuel markets with a delay," wrote the energy agency in its release. Diesel became 1.4 percent cheaper compared to the previous month, with a year-on-year price decrease of 2.7 percent. Super gasoline became 1.1 percent cheaper compared to July, with a year-on-year decrease of 3.9 percent. The prices for heating oil dropped significantly by 3.7 percent compared to July, although from a high level.

Solid fuels also became more expensive in August. The prices for wood pellets were 0.6 percent higher than the previous month and 2.5 percent higher than a year ago. Firewood prices increased by 0.3 percent compared to the previous month, with a year-on-year decrease of 6.7 percent.

(APA/Red)

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