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Hungary will not hike gas prices in April – minister

  Hungary’s government will not raise natural gas prices on April 1, Transport and Energy Minister Csaba Molnár was cited by national news agency MTI as saying on Wednesday.

Molnár said a fall in the value of the Hungarian forint versus the dollar alone would justify higher gas prices, but an expected decline in the global price of natural gas made a review in April unnecessary.

Domestic gas prices are adjusted in Hungary quarterly and usually track global crude prices with a delay of about nine months. The forint eased about 16% versus the dollar in the past three months, while global crude oil prices plummeted to about $40 a barrel from last year’s record highs.

Natural gas prices have significant impact on the consumer price index and on living standards which are expected to decline this year due to a sharp economic downturn. (Reuters)