The price increase so far does not seem to be slowing down.Continue reading
On Wednesday this week, the wholesale price of petrol will rise by HUF 4 gross (1 EUR = 389 HUF), while the purchase price of diesel will remain unchanged for the time being, writes Mandiner, based on reports from the fuel price monitoring blog holtankoljak.hu.
According to the website’s forecast, retail prices could be as follows in two days’ time:
They added that the forint weakened against the dollar last week, with the exchange rate at HUF 361 at the end of the week, a one percent weakening. In addition, the price of Brent oil per barrel rose, from USD 81.85 on Monday to USD 83.53, an increase of two percent.
Average wholesale fuel prices have increased significantly on a weekly basis since January. As of last week, the price of petrol has risen by HUF 63 and diesel by HUF 77, although this includes a HUF 41 increase in the compulsory excise duty. Without the latter, the increases are HUF 22 and HUF 36 respectively. In any case, half of the gains from the fuel price cuts from September to January last year have already been lost; in that period, Hungarian fuel prices fell by around HUF 100-100 respectively.
Hungary Today reported in the beginning of February that the Hungarian government remains committed to ensuring competitive fuel prices. Minister of National Economy Márton Nagy stressed at a meeting with the Hungarian Petroleum Association and MOL that domestic fuel prices must remain in the mid-range of the region. He added that affordable fuel is a common interest that, while protecting families, contributes to the recovery of consumption and the achievement of the four percent economic growth.
Via Mandiner; Featured image via Pexels