Economy 21 June 2024, 11:55am

Fuel prices to be raised in Hungary for the fourth time this week

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The wholesale gross list price of petrol and diesel will be raised in Hungary on Saturday (22 June), as well, fuel price tracking site, holtankoljak.hu reported on Friday. This will be the fifth hike in nine days.

The price of petrol will be raised by HUF 4 and that of diesel by HUF 5 per litre. Accordingly, we should find the following average prices at the pumps from tomorrow:

95-octane petrol: HUF 606 /litre
Diesel: HUF 627 /litre

Come Saturday, petrol and diesel prices will have been raised for the fifth time in nine days. Compared to 13 June, we'll pay HUF 16 per litre more for gasoline and HUF 31 more for diesel.

Let's see how fuel prices changed compared to four sort of arbitrary 'benchmarks':

End of 2023: petrol +6.3% (HUF 36), diesel +5.7% (HUF 34);
10 June (day after elections): petrol +2.7% (HUF 16), diesel +5.2% (HUF 31);
2024 peak: petrol -6.8% (HUF -44), diesel -5.1% (HUF -34);
Mid-January low: petrol +8.4% (HUF 47), diesel +6.8% (HUF 40).

In early May, a litre of diesel still cost HUF 14 less than a litre of petrol. By tomorrow, however, it will be HUF 21 more expensive, as the gap returned to positive territory on 29 May and has been widening ever since.