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Report: Vehicle gas prices expected to drop

Telco

Vehicle gas prices in Hungary are expected to fall by HUF 0-2, while the price of diesel may drop by HUF 3-4 on Wednesday, economy research institute GKI Gazdaságkutató Zrt. said in a report today.

According to the report, vehicle gas prices are expected to drop to HUF 395-397 per liter, while diesel prices will fall to HUF 375-377 per liter.

Last week, the price of Brent spot crude oil fluctuated between $57-$60, and the average weekly oil prices decreased by $3.5. Economic experts noted that the expected fall of oil prices are due to the escalation of the Greek government-debt crisis and to the announcement by Saudi Arabia that the country will increase its crude oil drilling. In the United States, petroleum engineering also increased.

International news agency Reuters noted that in the Mediterranean market zones, the price of premium unleaded gasoline dropped by 1.1%, while diesel fell by 0.5%-1% from June 15-19. In the North-Western-European and Amsterdam-Rotterdam-Antwerp (ARA) zones, premium unleaded gasoline fell by 2.3%, while heavy oil dropped by 0.8-1.0%.

The weekly exchange rate of HUF to USD in the period of June 15-19 reached an exchange rate of HUF 275.9 per dollar.

The changes in the domestic vehicle gas prices are based on two factors: the gas price changes in the international market and the exchange rate of HUF to USD.  

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