Petrol prices on the rise: Hungarian fuel prices may hit record highs this summer!
Hungarian motorists could be in for an unpleasant surprise at petrol stations this summer. According to experts, fuel prices may increase by as much as HUF 40–50 per litre in the near future. This will affect not only domestic traffic, but also those planning to travel abroad by car or visit Lake Balaton for the weekend.
According to Pénzcentrum, the situation is being exacerbated by several factors, ranging from seasonal demand growth to geopolitical tensions in the Middle East. The Association of Independent Petrol Stations has already warned that petrol prices could reach as high as HUF 630–640 (EUR 1.56–1.58) in Hungary during the summer months.
Why are fuel prices rising now?
Summer is typically the peak season for travel in Hungary. School holidays, vacations, and good weather encourage more people to embark on road trips, enjoy lakeside holidays, or spend long weekends in the countryside. Naturally, this results in increased fuel consumption, as traffic on main roads and motorways becomes significantly heavier.
However, this trend is not confined to Hungary. Globally, summer brings a surge in car usage, with millions of people taking to the roads across the United States, Europe, and Asia. As a result, demand for crude oil rises, which in turn drives up fuel prices worldwide.
In anticipation of this seasonal demand, oil industry players begin adjusting prices in the spring—well before the actual increase in consumption. By the time people set off on their holidays, they are already facing elevated prices at the pump.
Production costs also contribute to price increases
Many people may not realise that there are technical reasons for higher summer fuel prices. During warmer months, refineries produce a different fuel blend designed to evaporate less in the heat, ensuring more stable performance and engine reliability. However, this so-called “summer blend” is more complex and expensive to produce—further contributing to the overall price increase.
So, it is not only market demand but also the production process itself that pushes up fuel prices. In Hungary, as in neighbouring countries, this seasonal increase is felt every year, but in 2025, geopolitical tensions may amplify the effect.
The ongoing situation in the Middle East is causing further uncertainty on international oil markets. The escalating conflict between Israel and Iran has already impacted global oil prices. A recent armed incident, for example, caused an immediate 9% surge in oil prices—the highest spike in five years. Brent crude jumped from USD 65 to approximately USD 74–75 overnight. Sooner or later, this will be reflected in wholesale fuel prices and, inevitably, at Hungarian petrol stations. Experts anticipate at least a HUF 10 (around EUR 0.025) per litre increase in both petrol and diesel.
The Hungarian government’s strategy and the worst-case scenario
It is a priority for the Hungarian government to keep domestic fuel prices aligned with those of neighbouring countries. The goal is to ensure that petrol and diesel in Hungary are not significantly more expensive than in Austria, Slovakia, or Croatia. If they were, Hungarian motorists might opt to refuel abroad, potentially disrupting the domestic market.
However, if fuel prices rise in neighbouring countries due to global trends, Hungary will have limited options and will likely have to follow suit. Based on current indications, a summer price increase appears inevitable.
The greatest risk lies in the potential closure of the Strait of Hormuz—a strategically vital passage through which around one-fifth of the world’s oil supply is transported. If Iran were to block this route, perhaps in retaliation for sanctions or military action by Israel, it could lead to a dramatic global supply shortage. This would not only impact Iran, but also the United Arab Emirates and Oman, which export a significant portion of their oil through this corridor. Such a disruption would have serious consequences for global economies.
Fortunately, experts believe this worst-case scenario remains unlikely for now, as Iran would also suffer substantial financial losses.
What does this mean for Hungarian motorists?
If current forecasts prove accurate, Hungarian motorists may soon face fuel prices of HUF 630–640 (EUR 1.56–1.58) per litre. This could have a serious impact on those who drive regularly or are planning longer holidays. For many, the rising costs may prompt them to reduce car usage or explore alternative forms of transport—at least during the summer months.
Therefore, it is essential for all motorists to stay informed. Global market trends, geopolitical developments, and government decisions will all influence how much a litre of petrol or diesel will cost in Hungary over the coming weeks.
For now, one thing seems clear: prices are unlikely to go down.
Keep up to date with the latest on fuel prices in Hungary HERE!
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