Hungary, Government has decided to cap retail prices of petrol and diesel at the price of 1.3 euros/liter

, SEE Energy News

Hungarian Government has decided to cap retail prices of petrol and diesel at the price of 1.3 euros/liter as of 15 November. The price cap will be valid for a period of three months.

The Prime Minister’s Chief of Staff Gergely Gulyas said that the introduction of fuel price caps could help the Hungarian economy and would also contribute to reducing inflation. The price is below current prices in the country, with petrol at 1.39 euros/liter and diesel at 1.4 euros/liter.

The average price of petrol and diesel in Hungary are some 50 % higher compared to the same period last year, with annual inflation rate reaching 6.5 % in October.