Wholesale Fuel Prices Continue to Rise, Smaller Petrol Stations Fighting for Survival

Wholesale prices of petrol and diesel will continue to rise on Friday. For petrol, this means a gross increase of 3 forints, for diesel the increase is 5 forints gross.

Fuel price comparison site Holtankoljak.hu reported the price changes.

With this move, petrol stations are now buying gas oil at a higher price than they can sell it for, as the price cap means that the maximum selling price is HUF 480 forints.

Holtankoljak.hu pointed out that without the price cap the average prices would be: 95 petrol: 512 Ft/liter, diesel: 530 Ft/liter.

According to the site, we should expect petrol stations to close because of the official price cap, which is in effect until February 15th.

Apart from buying petrol, petrol stations of course also have other costs, such as paying employees or keeping the stations tidy. This does not make it easier for them to stay open.

Some smaller chains are especially facing serious problems.

Previously, as we have also reported, the decree on the fuel price cap said the following about possible petrol stations closures:

• The operator must declare an interruption in service if it is “unable to supply” 95 petrol or diesel “for a total of 48 hours within 7 days of opening.” This includes that stations may not carry out any other commercial activities during this closure period.
• The stations, however, may not declare such a closure for any other reason, nor may they shorten opening hours, meaning that they cannot close just because it isn’t worth it for them to stay open.

Featured image via Szilárd Koszticsák/MTI