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Minster Tells Industry Insiders That Fuel Prices Must Fall

Government

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National Economy Minister Márton Nagy told representatives of motor fuel companies that prices at the pump needed to fall to the average in neighboring countries or the government would intervene with regulatory tools at a meeting on Monday, according to a report by state news wire MTI.

Nagy met with representatives of the Hungarian Petroleum Association (MÁSZ), including ones from oil and gas company MOL, and of the Independent Gas Stations Association (FBSZ).

The meeting took place after weekly statistical data showed motor fuel prices in Hungary were over the average in neighboring countries.

MÁSZ and FBSZ recommended using monthly, rather than weekly, statistics for motor fuel price comparisons because of deviations due to factors peculiar to markets in neighboring countries, a proposal the ministry said was "worth considering".

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