Price cap boosted gasoline sales
A HUF 480/liter temporary retail price cap the government-mandated for gasoline and diesel from Nov. 15 has lifted sales, business daily Világgazdaság said.
Data from the Hungarian Petroleum Association (MÁSZ), whose members account for about three-quarters of the country's petrol market and two-thirds of the diesel market, show vehicle fuel sales climbed 17% in December, the paper said.
MÁSZ chief secretary Ottó Grád acknowledged the price cap as "one of the main reasons" for sales growth in 2021. MÁSZ members' vehicle fuel sales increased 5.4% to 3.81 billion liters last year.
Sales of 95-octane gasoline rose 5.9% to 1.132 billion liters and diesel sales climbed 6.6% to 2.377 billion liters.
Sales of premium gasoline, which weren't affected by the price cap, dropped 4.7% to 300 million liters.
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.