Hungarian motorists could face another painful blow at the pumps, with diesel prices already exceeding HUF 721 (EUR 1.80) per litre at some petrol stations. As the price of Brent crude oil surges amid escalating conflicts in the Middle East, experts warn that fuel could become up to HUF 100 more expensive by the end of 2026 if tensions persist.
Diesel prices rising again after weeks of stability
After several weeks without significant changes, diesel prices increased twice in Hungary last week, on Wednesday and Friday. The latest increases are largely linked to the rising price of Brent crude, which has climbed above USD 116 per barrel.
According to economist Erik Braun, falling wholesale and retail margins had helped cushion the impact of rising international oil prices in recent weeks. However, these margins have now narrowed so much that they can no longer offset the increases in the global market.
Speaking to ATV’s news programme, Braun warned that if the Middle Eastern conflict does not ease and crude oil prices continue to rise, further increases at Hungarian petrol stations are likely in the coming weeks.
The outlook could be particularly worrying for diesel drivers, with experts warning that the price of a litre of diesel could rise by another HUF 100 by the end of the year.
How much does diesel cost in neighbouring countries?
Fuel prices are also high across much of Central Europe, although the situation varies considerably from country to country.
According to figures reported by ATV, a litre of diesel costs approximately:
- Austria: HUF 808
- Romania: HUF 736
- Slovenia: HUF 712
- Slovakia: HUF 708
Croatia currently offers a somewhat cheaper alternative. At EUR 1.80 per litre, diesel there costs roughly HUF 30 less than in Hungary at the current exchange rate.
This has encouraged some Hungarian motorists to combine shopping trips across the border with filling up their tanks, making the journey worthwhile even when travelling primarily for groceries.
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Neighbouring governments intervene to limit fuel costs
Several countries in the region have introduced measures to prevent international oil price increases from being passed on entirely to motorists. In Croatia, fuel prices are reviewed weekly, with the government adjusting excise duties when necessary to limit significant increases. Prices are set every Monday and remain valid for one week.
Romania has also taken action, cutting certain fuel-related taxes by 25% and regulating profit margins in the fuel market. Nevertheless, motorists there are still facing relatively high prices.
One Hungarian driver interviewed by ATV expressed disbelief at the cost of filling up, saying that people who depend on their cars to get to work are finding the situation increasingly difficult.
Austria is also using tax reductions to ease the pressure on motorists, while introducing restrictions on fuel retailers’ margins.
How much more expensive could filling up become?
With Brent crude trading above USD 115–116 per barrel, the direction of international oil prices will remain crucial for Hungarian motorists in the coming weeks. If tensions in the Middle East continue, the pressure on domestic fuel prices could intensify, particularly as petrol stations have increasingly limited room to absorb higher wholesale costs.
