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Petrol consumption up 4%-6% in Q1

Hungarian oil and gas company Mol Rt estimates 330,000 tons of petrol and 520,000 tons of diesel were consumed in Hungary in the first quarter of 2006, 4%-6% more and 12%-14% more, respectively, than in the same period a year earlier, Ferenc Horváth, Mol's products and sales manager, told a press conference in Budapest on Wednesday.

Horváth explained the increase citing good conditions for motorists, more cars with diesel engines and a big fall in "petrol tourism", when Hungarians fill up their tanks across the border.
László Varró, Mol's chief economist, noted that the average Hungarian consumer can buy far more petrol now than five years earlier. Horváth added that, because of VAT and excise tax cuts in Hungary, fuel prices have become more competitive compared to other countries in the region.