The Hungarian government has demanded that retailers reduce fuel prices to the regional average. Companies have two weeks to do so, otherwise they will be severely punished. The actions taken are a reaction to the high prices that Hungarian drivers have been struggling with for several months.
– In two weeks, the government (…) will look at price changes and intervene with strict measures if fuel retailers do not return to average prices in the region, announced Economy Minister Marton Nagy after Wednesday's government meeting.
The head of the Ministry of Economy announced on Tuesday that he would recommend the government to intervene in the matter fuel priceswhich grow on Hungary for several months.
Rising fuel prices in Hungary
As the Index portal reminds, a few days ago the Hungarian Central Statistical Office (KSH) published data on regional fuel prices for the first time. They showed that the average price of gasoline is 3.2 percent higher. higher than in the Central European region (total: Poland, The czech republic, Slovakia, Austria, Romania, Bulgaria, Serbia, CroatiaSlovenia, Hungary) and the average diesel fuel price – by 5 percent
From Friday, the price of petrol will drop to 647 forints (PLN 7.11), and diesel to 633 forints (PLN 6.95). – A positive change has already taken place, but fuel prices expected from Friday are still higher than the regional average, with a difference of 10 forints (11 gr) for diesel oil and 27 forints (30 gr) for gasoline – said Minister Nagy after Wednesday's government meeting.
Nagy did not specify what measures might be taken in two weeks. State fuel regulations were already in force in Hungary: price limits were abolished after more than a year in December 2022 in an atmosphere of panic due to fuel shortages and long queues at gas stations.
This is another intervention on the fuel market
The Hungarian government has already intervened in the fuel market once. In mid-November 2021, before the parliamentary elections, Hungary introduced a fuel price cap – 95-octane gasoline and diesel fuel could not cost more than 480 forints (then about PLN 6.05) per liter. Then, in subsequent steps, the group of drivers who could refuel at lower prices was narrowed down.
Finally, in December 2022, half a year after Viktor Orban won the elections, the Hungarian government abolished the fuel price cap. This happened at the request of the Hungarian company MOL, after panic buying and problems with imports led to fuel shortages throughout the country. The energy company indicated that there was a “critical situation” on the domestic fuel market. Immediately after the limit was lifted, fuel prices increased significantly.
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