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.  

More Companies Take Action Against Corruption Analysis

More Companies Take Action Against Corruption

Karácsony Still Winner of Budapest Mayoral Election After Re... Elections

Karácsony Still Winner of Budapest Mayoral Election After Re...

2 Major Ground Handlers at Budapest Airport Join Forces Transport

2 Major Ground Handlers at Budapest Airport Join Forces

Summer Camp Prices Have Increased 10-15% Tourism

Summer Camp Prices Have Increased 10-15%

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.