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Fuel will become 25-30 percent more expensive for a lot of people in Hungary from January 2023Fuel will become 25-30 percent more expensive for a lot of people in Hungary from January 2023Fuel will become 25-30 percent more expensive for a lot of people in Hungary from January 2023Fuel will become 25-30 percent more expensive for a lot of people in Hungary from January 2023
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John Woods John Woods · 03/12/2022
· Business

Fuel will become 25-30 percent more expensive for a lot of people in Hungary from January 2023

energy crisis in Hungary fuel Hungarian economy Hungarian government

Attila Holoda, an expert in energetics, said that the government would not be able to uphold its fuel price cap scheme from January 2023. Below you may read why.

Mr Holoda is a former secretary of state for energetics under the Orbán government. He told mfor.hu yesterday that the government’s fuel price cap scheme will be abolished soon because it leads to supply challenges and it is unsustainable.

Holoda said that the reason behind supply shortages is the lack of imports. Except for MOL, the Hungarian fuel and energy giant, no companies import fuel from abroad because of the price caps. Furthermore, there are problems with the Hungarian enterprise’s refinery in Százhalombatta. Urgent maintenance works need to be carried out in the facility, so there is not enough capacity for sufficient production.

MOL refinery in Százhalombatta
Read alsoSerious problem for petrol stations: the Hungarian refinery has not restarted

Furthermore, the EU’s new embargo on Russian oil, entering into force on 5 December, forbids countries to trade with fuels produced from Russian oil. In the case of MOL, that means they would not be able to use the fuel made in their Bratislava (Pozsony) refinery. The Hungarian company has two refineries in the EU. The one in Hungary produces mainly diesel, while the other in Bratislava specialises in gasoline. The new EU sanction means that MOL will not be able to transport gasoline from Slovakia to Hungary from Monday.

That is probably why the association of independent fuel stations in Hungary and even the MOL suggested the government revoke the price cap scheme.

Mandiner.hu, a government close media outlet, concludes that the question is not whether the scheme is sustainable but how long Hungarian private individuals (and Hungarian taxi drivers) can refill their tanks for the preferential HUF 480 (EUR 1.17) per litre.

MOL fuel
Read alsoFuel prices half-year low in Hungary

Source: mandiner.hu, mfor.hu

energy crisis in Hungary fuel Hungarian economy Hungarian government
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John Woods
John Woods

4 Comments

  1. FV says:
    03/12/2022 at 22:52

    @DNH, may I ask you why you always stress the Hungarian name of Bratislava (Pozsony) in your articles (considering that your targeted audience are English readers )?

  2. Eleonora Jobst says:
    04/12/2022 at 10:48

    Dear FV, Our readers also include Hungarians who live or were born abroad. For most of us, this city will always remain Pozsony. Since we never fail to mention both two names (Pozsony and Bratislava) when referring to this city, we don’t believe it should be an issue for anyone. Have a lovely Sunday!

  3. FV says:
    04/12/2022 at 16:37

    Dear Eleonora,
    I believe Bratislava is enough and self explanatory enough to be understood by anyone. Specify the Hungarian name, in my personal opinion, is going back to the past. However, it so just my opinion. Have a lovely Sunday as well 🙂

  4. Jean Jakab says:
    04/12/2022 at 21:23

    Why can’t Hungary use geothermal power to heat houses? You can certainly do it rather than the baths. Or at least in addition to.

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