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.

Hungary’s Mineral Oil Association, representing major chains, insists supplies are ample with steady deliveries. MOL’s press office told Index there are no sales restrictions, fuel supply is continuous.​

How prices might fall in Hungary

Tisza proposes capping fuel at 480 forints (EUR 1.3) per litre as in 2021, slashing tax burdens. Excise duty stands at 158.8 forints per litre on petrol and 148.76 on diesel – set to rise in July – atop a 27 per cent VAT, the EU’s highest, plus 3 forints stockpile fee and 8 forints EKR levy. Cutting excise to the EU minimum could trim 20 forints per litre on both fuels, says hvg.hu.

Holtankoljak.hu lists average 95-octane petrol at 585 forints per litre (HUF 1.47), diesel at 629 (EUR 1.58). Prices last rose on Saturday: petrol up 7 forints gross, diesel 17.​

Trump predicts swift oil price drop – but no timeline

ATV reports US light crude (WTI) at $115.13 per barrel, up 35.6 per cent in a week – unseen since June 2022. Brent is $115.91 (27 per cent weekly gain); MOL-refined Russian Urals stands at $102. Investors fret global growth slowdown and runaway inflation.​

President Trump yesterday declined to forecast an end to the Iran campaign but predicted oil prices would plunge rapidly once it concludes.

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