Since fuel prices at gas stations are expected to fall 10–15 forints (0.03 to 0.04 euros) below the protected price this week, the government decided at its Wednesday meeting to propose amendments to the relevant legislation to the National Assembly and to phase out the protected price, the prime minister wrote in a Facebook post Wednesday.
Péter Magyar emphasized that the TISZA government will maintain the reduction in excise tax, just as MOL would maintain its reduced markups.
The prime minister noted that the price-protection scheme cost Hungarian taxpayers 50 billion forints (142 million euros; 1 euro=352 forints) per month.
“By the way, someone should ask the FIDESZ leaders and their lying propagandists—who have recently been out on the streets—where the 1,000-forint gasoline price is that they used to scare people with before the elections,” the prime minister asked.
PM Magyar. Photo: MTI/Hegedüs Róbert
The previous government introduced the so-called “protected price” effective March 10 of this year; under the relevant regulations, vehicles with Hungarian license plates and registration certificates can fill up with 95-octane gasoline at a maximum price of 595 forints per liter and diesel at a maximum price of 615 forints per liter.
As Hungary Today previously reported, starting Thursday, the wholesale price of gasoline will decrease by 5 forints gross, while the wholesale price of diesel will decrease by 14 forints gross.
They noted that for diesel, this represents one of the most significant price declines in recent weeks, which could quickly be reflected in prices at the pump.
Prices on the international oil market continue to trend downward, with Brent crude oil prices already falling below $80. The market is currently being driven by the expected normalization of Iranian oil shipments and easing supply concerns.
As holtankoljak.hu’s website confirms, the average price of 95-octane gasoline was 635 Ft/liter, while diesel was 655 Ft/liter on Wednesday.
Via MTI; Featured image: Pexels
