At a meeting with representatives of the Hungarian Petroleum Association (MASZ), including ones from oil and gas company MOL, Nagy said he saw a "chance for adjusting" gasoline prices, but not diesel prices. Local fuel prices need to stay in the "regional mid-range", he added.

Affordable fuel is in the "common interest" and can contribute to a recovery of consumption and achieving 4% GDP growth, he said.

The sides earlier agreed to meet regularly to discuss the impact of domestic and international trends on fuel supply and prices, the ministry noted.