Hungary, Government has extended fuel price until 1 October

, SEE Energy News

Hungarian Prime Minister Viktor Orban announced that the Government has extended fuel price until 1 October.

However, such measure has not been welcomed be fuel retailers, who have already advocated for their abolition. Hungary’s largest oil and gas company MOL has demanded a gradual withdrawal of the measure. MOL CEO Zsolt Hernadi said earlier that the phasing out of the petrol and diesel price caps would be necessary to ensure long-term security of supply in the Hungarian market.

The cap on retail fuel price was initially introduced in mid-November 2021, when the Government limited the price of petrol and diesel at 1.3 euros per liter. In February, the price cap was extended by additional three months, namely until 15 May, with the maximum price of 1.34 euros per liter. A month later, the Government also restricted wholesale fuel prices and extended the measure until 1 July.

In early June, in order to combat “petrol tourism”, Hungarian Government introduced higher, market fuel prices for cars with foreign license plates, while regulated prices are restricted to local vehicles.