Good deal for the Hungarian government: petrol tourism has boosted vehicle fuel sales

Vehicle fuel sales in Hungary climbed in the double digits in the first quarter from the same period a year earlier, the Tuesday issue of business daily Világgazdaság said, citing figures of the Hungarian Petroleum Association (MASZ).

Petrol sales climbed by 29.5 percent to 383 million litres, while diesel sales increased by 36.7 percent to 712 million litres.

Even excluding the effect of the low, pandemic base, vehicle fuel sales rose by around 20 percent, the paper said, pointing to petrol tourism as the “main reason” for the increase, MASZ secretary-general Otto Grad told the paper.

The maximum price for normal quality is HUF 480 per litre, while premium fuel costs the market price, which is now close to HUF 690 for petrol and HUF 790 for diesel, according to holtankoljak.hu. As a result, sales of 95-grade petrol rose by 40 percent in the first quarter, while premium petrol fell by 12 percent.

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The “whites” have lost their price advantage

The Independent Association of Petrol Stations (FBSZ), which brings together smaller, so-called “white” petrol stations outside MÁSZ, does not compile sales statistics, but they feel their sales are declining, Gábor Egri, president of the association, told VG.

The small stations have lost their price advantage over the big ones with the introduction of the price cap.

“It’s no longer worth driving off the motorway for a cheaper white pump, because you can fill up for the same price at the track at petrol stations advertised by OMV as Austrian quality, by Shell as Formula 1 and by Mol as shops,” he said. Incidentally, the FCO has still not received a reply from the Ministry of Innovation and Technology to its question about the means by which service stations can prevent unauthorised drivers from filling up with fuel from the price cap.

Price cap until May 15?

Hungary’s government temporarily capped retail petrol and diesel prices at 480 forints (EUR 1.28) per litre from November 15 to ease accelerating inflation. Petrol price stop expected to last until 15 May.

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Source: MTI