MOL to Phase in Excise Tax Increase Gradually

Energy Trade

Hungarian oil and gas company MOL will build a HUF 41/liter vehicle fuel excise tax increase into its petrol and diesel prices in two steps in January, MOL retail director András Orosz told MTI on Friday.

MOL will phase in HUF 20 of the increase into prices from January 1 and integrate the remaining HUF 21 from January 15.

Hungary's parliament earlier approved the excise tax increase effective January 1 as part of the transposition of European Union rules into national law.

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