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Study forecasts autumn cut to fuel

Hungarian market-research company GKI said petrol prices will likely decrease beginning in the autumn, GKI managing director Miklós Hegedűs told MTI.

GKI projects unchanged diesel prices for the rest of the year, Hegedűs said.

Petrol prices are expected to decrease due to falling demand at the end of the tourist season, Hegedűs said. Demand for diesel will not likely change considerably, he added.

The strong forint rate has also served to reduce vehicle fuel prices, Hegedűs said, pointing to a Ft 5 per liter decrease from Wednesday.

Oil prices on world markets have decreased as well, Hegedűs noted, while the USA has announced that it will increase its production of crude oil.

Hegedűs commented that global price of diesel will not fall below $100 per barrel even if the price continues to drop. Hegedűs estimated that the price of oil will be around $130 per barrel until October. (MTI – Econews)