ADVERTISEMENT

Gov't Considering Fuel Price Intervention

Government

Photo by gme_stuff / Shutterstock.com

Hungary's government will consider whether to enforce lower fuel prices after a review by the Central Statistical Office (KSH) of regional average price levels, Minister of National Economy Márton Nagy told online business daily Világgazdaság.

Last week, Nagy put pressure on fuel suppliers to cut petrol station prices closer to the Central European average as part of a broader government price-setting intervention after the worst inflationary surge in the European Union. 

"The government's patience is running out [...]. We think that local fuel prices are 7% to 9% higher than the regional average," Nagy said in the interview. 

The minister called the representatives of Hungary's Petrol Association and oil and gas group MOL to a meeting last Thursday after petrol prices in Hungary rose to HUF 642 (USD 1.75) per liter, above the regional average. The KSH will publish fuel prices and averages in neighboring countries this month, Nagy said in the interview.

Zwack Profit Falls 16% Figures

Zwack Profit Falls 16%

EC Advances Infringement Procedure Over Hungary's Sovereignt... EU

EC Advances Infringement Procedure Over Hungary's Sovereignt...

Hell Energy Inaugurates HUF 80 bln Capacity Expansion Manufacturing

Hell Energy Inaugurates HUF 80 bln Capacity Expansion

Puskás Arena to Host 2026 Champions League Final In Budapest

Puskás Arena to Host 2026 Champions League Final

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.