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Fuel Prices Fall Below the Psychological Threshold

Hungary Today 2024.09.12.

Hungarian fuel wholesalers announced a drop in fuel prices again on Thursday, according to a recent data release by Holtankoljak.hu. Almost two months have now passed without a rise in fuel prices.

Today, fuel prices are falling again. The fuel price monitoring blog has put the reason for this down to a significant drop in Brent oil prices. As Világgazdaság reports, the successive fuel price falls are not a surprise, as the oil price has collapsed in the space of a few days. Brent is currently hovering around USD 70, compared to USD 78 the previous Tuesday.

The purchase price of petrol will change by HUF 4 gross, while diesel will be HUF 7 gross less.

This means that the price of both diesel and petrol could fall below the psychological threshold of HUF 600 (EUR 1.51 / EUR 1=396).

If the price advantage just announced is passed on to consumers,

  • the typical price of petrol could go below HUF 580 from today,
  • and diesel could finally be below HUF 590 after a long period of time.

These are average prices, however, from which typical prices at petrol stations may differ by a few forints.

As reported by Hungary Today, August statistics already showed a positive change in fuel prices. According to data published by the Hungarian Central Statistical Office (KSH), the average price of petrol in Hungary was HUF 7 lower than in neighboring countries in August, while the price of diesel was the same as the average price in the region.

Inflation Rate Hits Its Lowest Level of the Year
Inflation Rate Hits Its Lowest Level of the Year

Consumer prices were on average unchanged compared to July.Continue reading

Via Holtankoljak.hu, Világgazdaság; Featured image: Pixabay


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