Orbán cabinet says fuel prices in Hungary are high due to the Biden administration and Ukraine
The National Economy Ministry said the Ukrainian threat to crude supply along with U.S. sanctions was lifting vehicle fuel prices in a statement issued on Saturday.
The ministry pointed to the impact of U.S. sanctions targeting a “shadow fleet” exporting Russian crude as well restrictions on Serbian oil company NIS. It also noted the shutdown of the Druzhba pipeline at the start of January as a result of the Russia-Ukraine war.
The ministry stressed that the government would do everything in its power in the interest of families and businesses to ensure security of supply as well as stable vehicle fuel prices. The government aim remains to guarantee that prices at the pump in Hungary remain under the average in neighbouring countries, it added.
The average price of petrol in neighbouring countries stood at the equivalent of HUF 637/litre during the reference period, HUF 1 over the price in Hungary, while the price of diesel averaged HUF 654/litre, HUF 1 under the price at the pump in Hungary, the ministry said.
The data show prices at the pump in Hungary are in line with the average price in neighbouring countries, it added. The government is prepared to intervene if prices in Hungary exceed the average in neighbouring countries, the ministry said.
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