Good news: Fuel prices are lower in Hungary than in neighbouring countries
According to the latest data from the Central Statistical Office (KSH), average fuel prices in Hungary were about HUF 6 lower than in neighbouring countries during the week.
Világgazdaság reports that, according to the KSH, the average price of petrol was higher in other countries in the region, such as Austria, the Czech Republic, Croatia, Poland, Serbia and Slovakia. It is also noteworthy that the price decrease of HUF 7 in Hungary is the highest in the region.
Fuel prices in Hungary are lower than other countries in the region
In Hungary, the average price of 95-octane petrol was HUF 594 (EUR 1.52), which is HUF 6 lower than the regional average, based on the latest data from the EU Weekly Oil Bulletin, as announced by the Central Statistical Office (KSH). In neighbouring countries, the average price was HUF 610 (EUR 1.56), making the Hungarian price 2.6 percent lower (i.e., HUF 16).
The average weekly price of diesel was HUF 601 (EUR 1.53) in Hungary, which was 1.7 percent higher than the regional average of HUF 591 (EUR 1.51). The average price of diesel in neighbouring countries was HUF 603 (EUR 1.54), but in comparison, the Hungarian price was 0.3 percent lower. The average price of 95-octane petrol in Hungary also decreased by HUF 7 compared to the previous week, while the regional average price and the average price observed in neighbouring countries increased by HUF 5, respectively. The average price of diesel in Hungary did not change compared to the previous week.
If we compare fuel prices in other countries in the region, we see that the average weekly price of diesel in Austria and Serbia exceeded the Hungarian value, while the average price in Bulgaria was more than 10 percent lower than in Hungary.
With the exception of Hungary, the average price of diesel increased in all countries in the region compared to the previous week. The largest increase was observed in Serbia.
However, the average price of 95-octane petrol in Slovakia was approximately 5 percent lower than in Hungary, as well as in Romania, where the difference is also 5-10 percent. On the other hand, the average price in Bulgaria is almost 10 percent lower than in Hungary.
The decrease in fuel prices follows an announcement by Márton Nagy, the national economy minister, in May about motor fuel price reductions. He said after a cabinet meeting that these reductions would bring Hungarian prices down to the average of neighbouring countries.
Read also:
Fuel in Hungary: Is it still worth going abroad to fill up? – Read here
Fuel prices in Hungary finally down to regional average, says economy minister
Don´t get that Hungarian flag out, just yet. Cheap petrol at the pump notwithstanding, we still have a comparatively high inflation figure:
https://tradingeconomics.com/country-list/inflation-rate%20-?continent=europe
Amazing how this comes just before the election. Fidesz is pulling every trick it can in this case by manipulating the petrol market. Prices will inevitably go back up particularly with the decline in the value of the forint in euros. The more the forint declines the more inflation you will have. It has lost 2% of it’s value since Jan 1st.