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Fuel restrictions imposed in Hungary: are we running out?
Iran’s decision last week to close the Strait of Hormuz – a linchpin of global oil trade – has sent oil prices into freefall. The result has been a sharp rise in fuel prices, compounded by supply fears as rationing measures are introduced at petrol stations across Hungary. MOL, the country’s largest oil firm, also cared its view about the fuel restrictions.
Further price hikes loom at Hungarian pumps
Fears of yet more increases, stoked by the Iranian conflict, prompted a rush to forecourts in recent days. Not all could cope with the surge in demand, leading to fuel restrictions: some stations cap purchases at 30 litres per vehicle per day, while diesel has already run dry at others. MOL chief Zsolt Hernádi, speaking on ATV last week, noted Central Europe’s diesel shortfall, predicting the war’s first impact on that fuel’s price and availability.
Since the Iranian war erupted, petrol prices have jumped by roughly 22-30 forints per litre, and diesel by 29-48 forints. MOL, for instance, has raised prices five times in a week, leaving petrol 20 forints dearer and diesel 39 forints higher. Further hikes are expected in coming days, according to RTL Híradó.
The root of the fuel restrictions
Magyar Hang reported on a sign at a small Bonyhád forecourt in Tolna county, where a 50-litre limit now applies; nearby in Őcsény it’s 30 litres, and diesel sold out today in Györköny amid soaring demand.
Holtankoljak.hu attributes this chiefly to small-town consumption spikes: households stockpiling, and farmers filling tractor tanks. One grower bought half a year’s diesel needs in advance.
Iran did not close the Hormuz.
Loyds of London did.
They simly refuse to insure any ship there. Which means all of thes ships are “Shadow Fleet” ships, and actively hunted by the EU.
Trump promissed an arrangement to solve this, but no-one believes in it.
When Trump introduces export restrictions on US and Venezuelan oil to get less decimated in the midters, you will understand the implications of this. As a sidenote, all this is true for natural gas too.
When, not if, Trump does that the following will happen:
1, the EU will run out of oil.
2, they go to Russia for oil, and capitulate in Ukraine.
3, because they pissed Russia off so much, they’ll get no oil.
4, the EU economy dies.
5, The Euro dies 6, the EU dies.
7, Member states descend into civil strife/war.
8, the USA will not be able to stop the prices spiraling in, Trump looses everything.
9, Because Trump betrayed everyone, no foreigners buy US debt, and because of inflation no US citizens buy it.
10, The USD dies, because the USA goes bankrupt.
11, The US “economy” dies with it.
So do you get it, why is Orbán shitting himself because of this?
Because knows what’s coming. And it’s not pretty.