Fuel prices soar, government ready to intervene

Fuel prices are again higher than the average prices in neighbouring countries, which is why the government will put the issue on the agenda on Wednesday, said Minister of National Economy Márton Nagy. mountain bikeHe recalled that the previous requirement that wells must keep their prices at the level of neighboring countries is still in force, writing Vilaggazdaság.

“We will enforce this rule, either by ensuring that retailers understand and do not circumvent this expectation, or by intervening with serious regulatory measures.

We do not understand these price movements, because the expectations that were set last month are still relevant,”

stressed the Minister of National Economy.

Prices at the pump have skyrocketed in recent weeks. Last Friday, the Central Statistical Office (KSH) published fuel prices from neighbouring countries, showing that the average price of petrol and diesel is higher in Hungary than in neighbouring countries. The government has therefore again called on fuel retailers to return to the practice of previous months and lower their prices below the average in neighbouring countries, in order to protect families. The cabinet has indicated that it is ready to intervene in the fuel market if this is not the case.

Gergely Suppan, chief economist at the Ministry of National Economy, said: InfoRadio On Tuesday, they said that if the expected price correction did not materialize, they would take action. “For now, we are waiting to see what the reaction to our statement will be.”

He noted that there had been a significant increase in fuel prices in the country recently, affecting both petrol and diesel.

One of the main reasons is the rise in the price of oil, but that would not justify such a price increase.

According to a report by the Hungarian Central Statistical Office (KSH) last Friday: the average price of gasoline in neighboring countries was HUF 606 (EUR 1.53; EUR 1 = HUF 394), while in Hungary it was HUF 610, rising to HUF 613 on Saturday, and from Tuesday it costs HUF 615 per liter at domestic wells.

For diesel, the average price in neighbouring countries was HUF 611 last Friday, while in Hungary it rose to HUF 629 on Saturday and has been HUF 633 since Tuesday, a difference of more than HUF 20.

Mr. Suppan promised to monitor in the coming days whether the requested price correction will be carried out and whether domestic prices will return to the average level of the region. If not, they will take measures.

The president of the Association of Independent Service Stations said: Mountain Bike News Previously, the ministry was solely responsible for the decrease in fuel prices. “Dealers have nothing, nothing, I repeat nothing to blame for the increase in prices (…) It can be said clearly: the price of fuel in Hungary is overtaxed,” Gábor Egri stressed.

Gergely Suppan responded to the accusation by pointing out that

“It is a mistake to think that fuel taxes are very high in Hungary, because the situation is much worse in many Western European countries.”

By mountain bike, Vilaggazdaság; Featured image via Facebook/MOL