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Govt Official: Price Cap Put Hungarian Fuel Prices Among Lowest in EU

MTI-Hungary Today 2022.01.15.

Fuel prices in Hungary are among the lowest in the European Union thanks to the government’s decision to cap retail petrol and diesel prices at 480 forints (EUR 1.30) per liter, an official of the innovation and technology ministry said on Saturday.

The policy to cap fuel prices is an integral part of the government’s scheme to cap utility bills, state secretary Tamás Schanda said in a video on Facebook.

He said that “unlike the left”, the government believes it has a duty to intervene if price increases threaten the economy and households.

Schanda said the policy had lowered the per liter prices of petrol and diesel by 26 forints and 32 forints, respectively.

Price Cap Has Had No Major Impact on Fuel Consumption
Price Cap Has Had No Major Impact on Fuel Consumption

Just because the price of gasoline became 30 forints cheaper from November, not much more fuel was consumed.Continue reading

He said opposition prime ministerial candidate Péter Márki-Zay opposed government intervention in the price of fuel and instead urged people to “buy smaller cars”.

Featured photo illustration by Szilárd Koszticsák/MTI