Extreme fuel prices in Hungary: here is the government’s ‘ultimatum’

Márton Nagy, the national economy minister, on Thursday summoned representatives of the Hungarian Mineral Oil Association (MÁSZ) and MOL to warn them about high fuel prices on the domestic market, the ministry said in a statement.

At the meeting, the minister noted that fuel prices in Hungary were above the European Union average, with petrol costing 644 forints (EUR 1.65) a litre and diesel 658 forints, both 7-9 percentage points higher than the regional average.

Referring to an earlier agreement with the sector stipulating that Hungarian prices should be mid-field in the region, the minister said the government had a similar “firm expectation” this time round.

Nagy said the Central Statistical Office will soon launch a public monitoring system to observe regional differences, and this would serve “as a point of reference” to ensure conformity with the government’s expectations.

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