Fuel Prices Compare Favorably with the Region

According to the latest data of the Hungarian Central Statistical Office (KSH), the average price of petrol in Hungary was HUF 7 (EUR 1 = HUF 394) lower than the average price in neighboring countries in August, while the price of diesel was the same

By: hungarytoday.hu

Sep 09 2024
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Fuel Prices Compare Favorably

Based on the Weekly Oil Bulletin, the average price of petrol in Hungary in August was HUF 605, which was HUF 7, 1.1 percent lower than the average price of HUF 612 in neighboring countries. Diesel in Hungary was HUF 611 in August, the same as the average price in the region, they highlighted.

As reported by KSH,

both petrol and diesel prices have decreased significantly compared to the average monthly price in July, with petrol down by HUF 7 and diesel by HUF 10.

In August, petrol prices were higher in Austria, Croatia, Serbia, Slovenia and Slovakia than in Hungary, while the average price of diesel was higher in Austria, Croatia, Serbia and Slovenia.

The ministry’s statement pointed out that wholesale fuel prices continued to fall on Saturday, so that thanks to the government’s measures to break the high fuel prices caused by the Ukrainian war, people can now buy petrol HUF 57 cheaper and diesel HUF 61 cheaper than their peak levels in April and February.

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The responsible pricing policies and cooperation of fuel retailers play an important role in ensuring that there is no unfair situation where Hungarian families pay more for fuel than in neighboring countries, the ministry said. They added that following a proposal by the Hungarian Petroleum Association and the Independent Petrol Consumers’ Association, and with the agreement of the Ministry for National Economy, the statistical method of analyzing fuel prices was refined in July.

As a result, prices are now monitored on a monthly rather than weekly basis, eliminating the undue impact of country-specific variations.

Based on the KSH report, the Ministry for National Economy has concluded that Hungarian fuel prices remain more favorable than the average prices in neighboring countries, which is in line with the government’s objectives.

Fact

As of today, the average price of petrol is HUF 588 per liter, while that of diesel is HUF 598 per liter, according to the fuel price monitoring blog Holtankoljak.hu. The site notes that the wholesale price of petrol and diesel will drop further on Tuesday. The former will be reduced by HUF 4 gross, while diesel will be HUF 3 gross less.

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Via MTI; Featured image via Pixabay

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