From Friday, domestic fuel prices will fall further. For petrol, this means a gross change of HUF 8, while for diesel we can pay HUF 5 less gross at petrol stations, Világgazdaság reports.
As holtankoljak.hu revealed, after this, the average price of 95 petrol could fall below HUF 600 (EUR 1.58), and the average price of diesel below HUF 630 (EUR 1.66). The average prices for the second half of the week are expected to be as follows:
a liter of 95 petrol will cost HUF 597 (EUR 1.57) and diesel HUF 626 (EUR 1.65).
It was already foreseeable that prices would continue to fall, with Brent crude dipping below USD 82 on Wednesday morning, although it had previously been above USD 90 due to the Israeli-Palestinian conflict. Meanwhile, the forint has also performed surprisingly well in the currency market, with the exchange rate against the dollar coming down from HUF 360 to HUF 354 since the Fed’s decision in early November. Moreover, there is the fall in retail margins, which has also helped prices fall over the past month or so.
As a result, domestic fuel prices are now in the mid-range of the region.
The last time new pricing was announced was on November 6, when petrol became HUF 5 more expensive gross per liter, and diesel fell by HUF 8 gross.
The last time you could find similar prices at Hungarian petrol stations was in the summer, but from January it can be expected that fuel prices will be above HUF 700 (EUR 1.84). As Zsolt Hernádi, Mol’s CEO, said, fuel prices will definitely rise from January 1 due to the expected increase in excise duty: by exactly HUF 41. According to the CEO,
if domestic fuel prices were very low, fuel tourism would start up again.
Hernádi noted that the war between Israel and Hamas has pushed the price of Brent oil above USD 90, but fortunately there has been no supply shock. The market is afraid of escalation, everyone is looking at Saudi Arabia and Iran, because if there is only a 1% drop in oil production, it will mean a 10% increase, he concluded.
Via Világgazdaság, holtankoljak.hu, Featured image via Pixabay