Here is the government’s announcement on Hungarian fuel prices


The government accepted the traders’ proposal and decided that the reference value of the fuel price will be the average of the fuel price of neighboring countries, Minister of National Economy Márton Nagy announced on Wednesday at the doorstep press conference following the government meeting.

He said that the government reviewed fuel prices at Wednesday’s meeting and found that with the current reductions, Hungarian fuel prices have reached the average of neighboring countries.

Márton Nagy emphasized that in recent weeks, fuel dealers have adapted to the government’s request and announced a price reduction on Wednesday morning as well. According to this, from Friday, the average price of 95 gasoline will decrease to HUF 616, and that of diesel fuel will decrease to HUF 607.

This means that the average price of 95 gasoline has decreased by HUF 34, more than 5 percent, compared to the peak in April. Compared to the peak value in February, the price of diesel fell by HUF 54, or more than 8 percent, the Minister of National Economy listed.

Fuel prices will continue to fall from Friday

The minister recalled that two weeks ago, the government asked fuel dealers to adjust their prices to the regional average as part of a voluntary commitment, and does not intervene with harsher means.

He explained that the government had considered the fuel dealers’ proposal to take into account the average fuel price of the neighboring countries, with the exception of Ukraine, in the reference value instead of the regional average. This removes Poland, the Czech Republic and Bulgaria from the reference value.

Márton Nagy emphasized that the government expects fuel dealers to keep Hungarian fuel prices at the average of neighboring countries in the future. The government continues to review the situation every two weeks.

At Wednesday’s meeting, the government saw that the request for cooperation and voluntary commitment proved to be sufficient. Fuel dealers “can absorb” the price reductions in the profit margin, he added.

Márton Nagy said that the formation of war prices forced the government to break them and protect families. The intervention was successful. In the coming weeks and months, I would like the traders to maintain the level, the average price of the neighboring countries will continue to serve as a strong reference point.


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