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Gov't caps wholesale vehicle fuel prices

Government

Hungary's government has capped wholesale prices for gasoline and diesel at HUF 480/liter, level with the limit on retail prices, to prevent businesses from having to sell under cost, the Innovation and Technology Ministry said on Monday.

A government decree on the measure was published in the latest issue of the official gazette Magyar Közlöny.

The government introduced the retail vehicle fuel price cap on November 15 to ease higher inflation for an initial period of three months. The measure was recently extended until May 15.

The decree published Monday also lowers the excise tax on petrol to HUF 115,000 from HUF 120,000 per 1,000 liters and the excise tax on diesel to HUF 105,350 from HUF 110,350 per 1,000 liters.

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