Independent gas station owners form association
Image by Pixabay
The operators of 300-400 independent gas stations announced the formation of a business association on Monday, according to a report by state news wire MTI.
The Independent Gas Stations Association also issued a declaration calling for measures to ensure the livelihood of their family-owned businesses amid a temporary price cap on vehicle fuel prices.
Hungary's government introduced a three-month 480/liter price limit on retail gasoline and diesel fuel prices from November 15 to ease the impact of spiking inflation. It has extended the cap for another three months until May 15.
The association proposed exempting independent gas stations from excise tax and cutting the VAT on vehicle fuel to 5%. The association also said it is seeking "a common solution to the problem together with the government".
The association's members serve about 15% of Hungary.
Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%
Bulgaria's Household Income, Spending Rise 20% in 2023
Spar Magyarország Revenue Climbs Close to 16% in 2023
Hungary Launches HUF 15 bln Tourism Sector Support Program
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.
