The impact of the war between Russia and Ukraine could soon cause serious problems at petrol stations. Ominous forecasts question whether there will be fuel at Hungarian petrol stations by the end of this spring. Let’s see what can be expected.
From Wednesday, the wholesale price of fuel will rise by an unprecedented
41 forints gross for petrol and 66 forints gross for diesel for end-users buying from wholesalers.
Thanks to the price cap introduced at the beginning of this year, drivers will not feel the dramatic increase. They can continue to fill up their tanks for a maximum HUF 480/liter. Similarly, the government has capped the wholesale price at 480 forints to help petrol stations as well.
However, fuel supply difficulties will be further exacerbated by the significant price increase. According to an expert, there are no wholesalers who will serve Hungarian petrol stations at a loss of 80-100 forints per litre. This might lead to such a critical situation that there will be no fuel in Hungary within a few months.
Delivery is already slower at some traders,
so stock shortages at Hungarian petrol stations can become more frequent.
According to the expert, there are two possible solutions to the current situation: either a gradual increase in the official price or a reduction in retail prices through tax cuts. But sooner or later, we will inevitably return to a situation where prices are set by the market – reported the Hungarian news portal Blikk. This would almost certainly mean a petrol price of around 600 forints per litre.
According to the expert, the evolution of the current situation in the upcoming months also depends on whether the international negotiations on Iran’s nuclear programme can be concluded, as Iran could also provide the raw material for half of Russia’s oil exports, which would stabilise the markets.
In addition to all these, the development of the forint exchange rate in the forthcoming months is another important factor.