Diesel to Be Significantly Cheaper from Wednesday

Fuel prices will change from Wednesday, Holtankoljak.hu reported on Monday morning. Based on the information of the fuel price monitoring website, from November 1, both petrol and diesel will see new pricing at petrol stations.

This change applies to wholesale prices. The price of petrol will rise by 2 forints gross per liter, while the opposite will apply to diesel, whose price will fall by 8 forints gross per liter, meaning that petrol stations will be able to purchase it for that much less. Experience shows that the change in wholesale prices is also reflected in retail prices, which is why these movements are also likely to be reflected in prices at petrol stations.

This will result in the following average prices from Wednesday, November 1:

The average price of 95 petrol will be HUF 610 (EUR 1.59) per liter, and diesel will be HUF 639 (EUR 1.67) per liter.

This is the second consecutive time that the price of petrol has risen while that of diesel has fallen. The last time a new price increase was announced at petrol stations was last Wednesday, October 25, when the price of petrol rose by 5 forints gross per liter, and diesel fell by 3 forints, writes Világgazdaság. This mixed picture is therefore continuing this week. Information on fuel price developments would normally be available on Wednesday (for prices applicable from Friday), but this is likely to be missed due to the November 1 holiday.

In other words, we should expect the prices announced now to be in effect until Wednesday next week.

What explains the rise in petrol and the fall in diesel prices is a multi-factorial process. Developments on the international market, in particular oil prices and refined product prices, have a major influence. Wholesale and retail margins set by domestic operators are also a significant factor. The change in this may well explain the divergence between Hungarian and regional fuel price developments in recent weeks.

Via Világgazdaság, Featured image: Pixabay