Will the price of fuel fall in Hungary? Major tax cuts demanded

Europe’s largest tax reduction program would be a cut in fuel taxes, the Mi Hazánk Movement stated on Saturday in a press release to MTI.

János Szajlai, vice president of the party’s energy cabinet, noted in the statement that while the government has been touting “Europe’s largest tax reduction program” for days, in many cases, these promises will only materialise years from now.

“In contrast, the Mi Hazánk Movement has been proposing a tax cut for years that could truly be Europe’s largest tax reduction program and would provide significant relief to Hungarian families. This would be a reduction in fuel taxes,” he added.

Szajlai explained that in Hungary, taxes account for half of fuel prices, with the excise tax unjustifiably higher than the EU’s required minimum. On top of this, the 27% VAT further increases prices. If the excise tax were lowered to the EU minimum, petrol and diesel could be HUF 20-22 cheaper per liter.