Fuel Prices Remain Continuously Below the Average in Neighboring Countries

The recent publication of regional fuel prices by the Hungarian Central Statistical Office (KSH) highlights significant shifts in Hungary and neighboring countries.

In Hungary, both petrol and diesel prices experienced notable decreases, with petrol dropping by HUF 17 (1 EUR = 387 HUF) and diesel by HUF 7 compared to the previous week. Similarly, regional averages saw declines, albeit slightly smaller than Hungary’s.

Despite these reductions, disparities persist between Hungary and its neighbors.

Austria, the Czech Republic, Croatia, Serbia, and Slovakia all maintained higher average petrol prices than Hungary, although Slovakia saw a considerable decrease following Hungary’s lead. Conversely, Poland and Slovenia recorded petrol prices slightly below Hungary’s average, while Bulgaria’s prices remained substantially lower.

The Ministry for National Economy attributes these changes to governmental intervention, which has prompted fuel retailers to implement significant price cuts. This move has led to further reductions in petrol and diesel prices at the pumps, with petrol decreasing by HUF 5 and diesel by HUF 4.

Overall, the government has managed to reduce petrol prices by HUF 43 and diesel by HUF 56 from their peak levels earlier this year.

Data from KSH indicate that Hungary has successfully aligned fuel prices with those of neighboring countries, ensuring competitiveness. To support Hungarian families, the government has urged fuel retailers to voluntarily adjust prices to match those of neighboring countries, thereby easing financial burdens. Lower fuel prices not only benefit households but also contribute to reducing inflation and stimulating domestic consumption, supporting overall economic recovery.

Minister for National Economy, Márton Nagy, emphasizes the importance of cooperation with fuel retailers, expressing confidence in their continued alignment with neighboring countries’ prices. The government remains committed to monitoring fuel price trends closely to ensure fair and sustainable pricing for consumers.

Via Magyar Nemzet, holtankoljak.hu; Featured Image: Pixabay