Gov't Considering Fuel Price Intervention
Photo by gme_stuff / Shutterstock.com
Hungary's government will consider whether to enforce lower fuel prices after a review by the Central Statistical Office (KSH) of regional average price levels, Minister of National Economy Márton Nagy told online business daily Világgazdaság.
Last week, Nagy put pressure on fuel suppliers to cut petrol station prices closer to the Central European average as part of a broader government price-setting intervention after the worst inflationary surge in the European Union.
"The government's patience is running out [...]. We think that local fuel prices are 7% to 9% higher than the regional average," Nagy said in the interview.
The minister called the representatives of Hungary's Petrol Association and oil and gas group MOL to a meeting last Thursday after petrol prices in Hungary rose to HUF 642 (USD 1.75) per liter, above the regional average. The KSH will publish fuel prices and averages in neighboring countries this month, Nagy said in the interview.
ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan
EC Puts Hungary 2024 GDP Growth at 2.4%
HU-rizon Program: HUF 8 bln Funding for International Resear...
Inspiring Women at the Focus of Gourmet Fest
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
