Hungary announces largest fuel price drop of the year
Hungary is set to experience a significant reduction in fuel prices this week, marking the largest price drop of 2025 so far. The change, driven by global oil market trends, will take effect on Thursday, 10 April.
Wholesale price reduction
The wholesale prices of both gasoline and diesel will decrease by HUF 12 per litre, according to Holtankoljak.hu. This adjustment is expected to gradually influence retail prices at fuel stations across the country. Currently, the average price for 95-octane gasoline stands at HUF 604 (EUR 1.48) per liter, while diesel costs approximately HUF 613 (EUR 1.50) per liter. Following the reduction, gasoline prices are projected to fall below the psychological threshold of 600 forints per liter, with diesel prices nearing this mark as well.
Global factors behind the price drop
The sharp decline in fuel prices is largely attributed to a 17% drop in Brent crude oil prices over the past week. This downturn was triggered by several global developments:
- U.S. economic concerns: Recent economic measures in the United States, including new tariffs signed into law by President Donald Trump on 2 April, have caused widespread stock market volatility globally. The tariffs aim to balance trade deficits by imposing higher rates on imports from various countries.
- Increased oil production: Major oil-producing nations such as Russia, Saudi Arabia, Iraq, and others announced plans to accelerate oil production starting in May. This decision will add an additional 411,000 barrels per day to global supply, which was originally planned to be phased in over three months, Világgazdaság reports.
Previous fuel price trends
This reduction follows smaller price cuts announced earlier this week when wholesale gasoline prices decreased by HUF 5 and diesel by HUF 6 per liter. However, these changes only partially translated into lower retail prices as some fuel stations retained part of the savings. The last comparable major price drop occurred in March 2024, which shows how rare such significant adjustments are.
Impact on consumers
If fuel stations fully implement the wholesale price reductions, Hungarian consumers can expect considerable savings at the pump. These changes provide relief amid fluctuating global economic conditions and highlight how international events directly impact local markets.
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