How much can Hungarians save due to the fuel price cap?

The extended government price caps on vehicle fuel will save Hungarian households an average of 21,000 forints (EUR 53.10) in June, think-tank Századvég said on Friday.

Average car users, or some 40 percent of all motorists, save 13,000 forints (33.6 EUR) a month thanks to the price caps, Századvég said in a statement. Those who fill up their tanks once a month can save 4,800 forints, but they account for just 20 percent of car users, the think-tank added. Meanwhile, those who use their cars often or all the time also account for 20 percent each. Motorists who buy the most fuel can save about 50,000 forints a month through the measure.

The average 21,000 forint (EUR 53.10) save is calculated with an average consumption of 76 litres of fuel,

they added.

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Hungary’s government decided to cap retail petrol and diesel prices at 480 forints (EUR 1.22) per litre last November. At market prices, one litre of petrol would cost 768 forints (EUR 1.96) and diesel 751 forints (EUR 1.92). The price caps help around 5.5 million people in Hungary, Századvég said.

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Source: MTI