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)