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Following a series of price increases, the Hungarian fuel market is temporarily calm. As reported by the fuel price monitoring blog holtankoljak.hu, wholesale prices for gasoline and diesel will remain unchanged on Tuesday, August 5. This is somewhat surprising, as global developments suggested that fuel prices could even fall.
Last week, wholesale prices were raised four times in a row. The current stagnation is therefore a welcome despite, even if average prices remain high. With the latest price hike on Saturday, the price of diesel has cemented itself above the psychological threshold of 600 forints/liter (1.51 euros), while the price of gasoline is only a narrow margin away from this threshold.
Although the dollar-forint exchange rate and the Brent crude oil price have recently shown favorable developments, wholesalers have not lowered prices by Monday.
As of today, August 4, 2025, the average prices at gas stations are as follows:
Global developments suggested that fuel prices might fall, as the dollar-forint exchange rate, that is decisive for fuel pricing, plummeted from 350 to close to 340 forints during the day last Friday, a spectacular decline reminiscent of the early days of the tariff war, Világgazdaság reports.
Not only did the forint strengthen significantly against the dollar, but the price of Brent crude oil also fell from 72 to 69-70 US dollars per barrel. Unfortunately, this proved insufficient this time around, as wholesalers in the domestic fuel market, that is dominated by Hungarian oil and gas company MOL, have not yet lowered their prices.
Car owners can still hope that prices will fall soon. Világgazdaság points out that a change could occur by Wednesday at the latest, provided that the favorable global trends continue. However, it remains to be seen whether gas stations will actually pass on the wholesale prices to end consumers.
Via holtankoljak.hu, Világgazdaság; Featured image: Pexels