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Report: Ministry will not lower public transport fares

Food

Hungary’s Development Ministry is not planning on lowering public transport fares, as public transportation fees set out in public service contracts cannot adjust to fast-changing market conditions, such as the drop in crude oil prices, the ministry told Hungarian economic daily Napi Gazdaság today.

The ministry said that analysts do not expect low crude oil prices to be in place for long, and added that base fares for public transportation services have remain unchanged since 2010 despite the rise of oil prices almost every year since then.

According to estimates made by the daily, lower oil prices generated savings in the amount of HUF 410 mln for state-owned Hungarian railway company MÁV in 2014.

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