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Looming fuel shortage in Hungary? Oil reserves at historic low, quantity limits introduced
According to the latest data, Hungary’s security oil reserves have never been this low in the past decade. Holtankoljak.hu reports that more fuel stations have introduced volume restrictions than those that have not. Is a devastating fuel crisis looming in Hungary?
Fuel supply crisis on the horizon?
Pénzcentrum notes that more pumps have imposed fuel restrictions than those that have not. Holtankoljak.hu warns that the government-imposed price caps may jeopardise fuel supply in the long term. CEO Eszter Bujdos explained that importers have no interest in operating at a loss. This mirrors the previous fuel crisis from 2021 to 2022, when imports plummeted drastically. The current situation is even more concerning, as MOL’s Százhalombatta refinery is not operating at full capacity following the October fire.
Moreover, MOL’s Bratislava (Pozsony) refinery cannot supply the shortfall, as it no longer receives oil from Russia via the Druzhba pipeline. Consequently, MOL’s 70% supply is not assured, while the remaining 30% is entirely uncertain.
Central Europe regularly faces diesel shortages
For instance, in Slovenia, market players can sell fuel for more. As a result, they have little incentive to import it to Hungary and incur losses rather than pursue profitable business elsewhere.
MOL CEO Zsolt Hernádi has stated that Central Europe regularly grapples with diesel shortages. In any fuel crisis, diesel would be affected first. From Wednesday, the diesel price will surpass the psychological barrier of HUF 700 per litre. However, drivers with Hungarian number plates will pay only HUF 615 per litre under the government’s price reduction scheme.
All together please, lets blame ukraine! 😀
Of course, or perhaps it’s the EU, Brussels, the West, Germany, Poland, and other unpatriotic scoundrels. The Hungarian government, of course, is as always completely innocent. ðŸ˜
DIE WELT reports:
“Of course, we cannot accept it when someone – even in an emotional moment – ​​addresses a head of government of a member state of the European Union inappropriately,” said EU Council President Costa.
Ukraine has accepted the European Union’s offer of technical and financial assistance to repair the damaged Druzhba pipeline, Costa announced.
According to a letter from Zelenskyy, Ukraine intends to repair the pipeline by the beginning of May. He expects the damaged pumping station to be operational “within a month and a half,” he writes in a letter to Brussels, which the EU Commission published on Tuesday.
Will Hungary’s existing reserves be sufficient until then?