Three major gas pipeline development projects were recently completed in Europe.Continue reading
Hungarian drivers can rejoice as the market price of fuel in Hungary will see some reduction from Wednesday. As the official capped price of 480 forints is not available to the entire population, the price reduction is very welcome.
From Wednesday, 16 November, 95 octane petrol will be 20 forints gross cheaper, while diesel will be 30 forints cheaper per liter in Hungary. According to holtankoljak.hu, a Hungarian price-watch website, the price of 95 octane petrol will be 677 forints (EUR 1.66) per liter and 742 forints (EUR 1.82) per liter for diesel. For Hungarian privately registered cars official price will remain unchanged at HUF 480 (EUR 1.17) per liter.
At the same time, petrol stations continue to complain about the official price, which they say is the reason for their loss-making operations.
According to the Independent Petrol Stations Association, the state has forced their businesses to operate at a loss. Around fifty small petrol station operators have lodged a complaint against the structure of the national official prices, which has been upheld by the Constitutional Court of Hungary and the European Court of Human Rights in Strasbourg.
Hungarian capped-price fuel is the cheapest in the region, but its non-capped market price costs more than it does in neighboring countries.
Featured photo via MTI/Koszticsák Szilárd