Finance Ministry says fuel in Slovakia should be cheaper

Slovak motorists feel the changes in wholesale fuel prices last, having the longest delay in price reductions among all the countries in central Europe, according to the latest analysis from the Finance Ministry's Financial Policy Institute (IFP). The prices at petrol stations in Slovakia responded to changes on stock exchanges with a six-week delay on average, with prices rising more quickly than they fall, notes the analysis. It stresses the need for more efficient regulation of the distribution market, therefore. Over the past 14 months motorists have been buying petrol that costs 7 euro cents more on average, while diesel has been 5 euro cents more expensive. "One of the reasons behind the more expensive fuel is Slovakia's less-developed network of petrol stations, which is approximately three times smaller than that in the Czech Republic", reads the analysis. It also confirmed the existence of price asymmetry, a phenomenon long pointed to by Slovak motorists, according to which prices rise more quickly than they fall. Price asymmetry hasn't been demonstrated in any neighbouring country.