Fuel prices will rise again from Wednesday.Continue reading
A small breakthrough is on the cards for the Hungarian fuel market, writes Világgazdaság according to a recent forecast from holtankoljak.hu.
The fuel price monitoring blog has reported that
from Friday, the wholesale price of petrol and diesel will fall.
The price of petrol will be reduced by HUF 3 (EUR 1 = HUF 390) per liter, while diesel will see an even bigger drop: petrol stations will pay HUF 5 less to wholesalers.
It can be expected that gas stations will pass this discount on to vehicle owners, so taking this into account, average prices from April 12 could be as follows:
Currently, and until midnight on Thursday, the average price of 95 petrol is HUF 644 per liter and diesel is HUF 658 per liter. It is important to stress that these are average prices, which may differ from actual retail prices. For example, fuel is roughly HUF 50 more expensive per liter near motorways. In any case, so far this year, between January and now,
the price of petrol has risen by HUF 102 per liter and that of diesel by HUF 80 at the wholesale level.
It should be noted however, that HUF 41 of this is due to the mandatory increase in excise duty in January. Excluding this, there is an increase of HUF 61 and HUF 39 for petrol and diesel respectively. The increase of around HUF 80-100 per liter means that an average 50-liter tank of petrol costs HUF 4,000-5,000 more now than it did in December last year.
The current fuel price cut is somewhat unexpected, as in the past there have only been isolated or partial price cuts: either petrol or diesel. The last time both were cut at the same time was at the very end of February, a month and a half ago. Then, average prices (petrol and diesel) were at HUF 615 and HUF 647 per liter respectively.
The fact that the double reduction has now been reintroduced by traders may well have something to do with the government’s indication that it believes there is something wrong with Hungarian pricing. This is why the government will meet the representatives of MOL and the Hungarian Petroleum Association later this week, hosted by the Minister for National Economy, Márton Nagy. This is not a new discussion, as it has been documented at least twice before. However, the current meeting is extraordinary in that Nagy indicated in advance that
Hungarian fuel prices have changed too much compared to the region.
“We had an agreement with the Hungarian Petroleum Association. Hungarian fuel prices have recently shifted from the mid-range prices in the region,” the Minister pointed out.
Via Világgazdaság; Featured image via Facebook/Shell
