Diesel and petrol prices in Hungary have remained stable for almost two months.Continue reading
Hungary
Escalating Conflict in the Middle East Pushes Up Domestic Fuel Prices
As expected, fuel prices in Hungary will continue to rise, Holtankoljak.hu reported on Monday. According to the fuel price monitoring blog, the price of domestic fuel will rise again from Tuesday, pointed out Világgazdaság. Furthermore, this time it
As expected, fuel prices in Hungary will continue to rise, Holtankoljak.hu reported on Monday.
According to the fuel price monitoring blog, the price of domestic fuel will rise again from Tuesday, pointed out Világgazdaság. Furthermore, this time it will be a general price increase:
the wholesale price of petrol will be HUF 3 (EUR 1 = HUF 400) more expensive, while diesel will rise by HUF 6.
The last wholesale increase was HUF 4 and HUF 5 on Saturday. Currently, the average prices for vehicle owners are as follows:
- 95 petrol: HUF 587 (EUR 1.46) per liter,
- diesel: HUF 595 (EUR 1.48) per liter.
It is important to stress that these are average prices, from which the typical price may differ by a few forints at petrol stations. However, if the fuel price rise increases just announced are fully passed on to retail prices, the average price of petrol could be back above HUF 590 and diesel above HUF 600.
As Hungary Today reported yesterday, tensions in the Middle East have escalated since Israel stepped up its fight against Hezbollah last month, killing long-time leader Hasan Nasrallah and most of his senior commanders, and launching what it claims is a limited ground operation in southern Lebanon. As a consequence, Brent oil prices shot up:
within a very short space of time, they jumped from USD 70 to over USD 75 and are now around USD 80. This is obviously reflected in fuel prices.
The trend is also being exacerbated by the dollar-forint exchange rate, which has now gone from 355 on Sunday two weeks ago to 367.
In other words, Hungarian petrol station pricing does not bode well for motorists in the coming days.
In any case, overall, between January and now (with the emphasis on wholesale), the price of petrol has risen by HUF 33 per liter and the price of diesel by HUF 18. True, HUF 41 is due to the mandatory excise duty increase in January. Excluding this, petrol prices have fallen by HUF 8, while diesel prices are down by HUF 23.
After a rise of around HUF 20-30 per liter, an average 50-liter tank of petrol costs between HUF 1,000 and HUF 2,000 more than in December last year. This means that there is not much left to do to bring this year’s fuel prices back to last year’s closing level. True, the situation in the Middle East is not helping this process.
Via Világgazdaság; Featured image via Pexels
The post Escalating Conflict in the Middle East Pushes Up Domestic Fuel Prices appeared first on Hungary Today.
Related
Share this page
Guest Posts by Easy Branches
