Fuel prices to be raised in Hungary again
The wholesale gross list price of 95-octane petrol will be raised by HUF 2 per litre tomorrow (2 July), while the price of diesel will be upped by HUF 3. Accordingly, we should find the following average prices at the pumps come Tuesday:
- 95-octane petrol: HUF 615 /litre
- Diesel: HUF 633 /litre
Fuel prices were last raised on Saturday, which was the eighth time in about two weeks. Compared to 13 June, we will pay HUF 25 per litre more for gasoline and HUF 37 more for diesel.
On Friday, the government has called on fuel retailers to return to the practice of previous months and reduce their prices to below the average price in neighbouring countries. Otherwise, the government remains ready to intervene in the fuel market.
As of 28 June, a litre of petrol was HUF 4 more expensive and diesel cost HUF 18 more in Hungary than the average of neighbouring countries.
Let's see how fuel prices will compare to four sort of arbitrary 'benchmarks':
- End of 2023: petrol +7.9% (HUF 45), diesel +6.7% (HUF 40);
- 10 June (day after elections): petrol +4.2% (HUF 25), diesel +6.2% (HUF 37);
- 2024 peak: petrol -5.4% (HUF -35), diesel -4.2% (HUF -28);
- Mid-January low: petrol +10% (HUF 56), diesel +7.8% (HUF 46).
Cover photo: Shutterstock
