Hungary’s recently capped petrol and diesel prices are so low, that smaller pump stations in the country are struggling to stay in business.Continue reading
As expected, the government has extended the cap on petrol and diesel prices at the pump until May 15.
The extension of the cap by three months was announced by the prime minister in a keynote speech on Saturday.
The innovation Ministry said that in view of the fact that fuel prices have a significant impact on the prices of other products and the economy as a whole, the government had decided last November to cap the price of 95 octane petrol and of diesel at 480 forints (EUR 1.3) per liter at the pump.
The government expects the price cap to curb inflation, which is at a 15-year-high, by 0.5 percent while “ensuring one of the lowest consumer fuel prices in Europe.”
That measure will remain in force until May 15 (a month and a half after the general election).
Featured photo illustration by Szilárd Koszticsák/MTI