Fuel price cap extended until May 15th in Hungary

The government has extended the cap on petrol and diesel prices at the pump until May 15, in view of world market trends and to protect Hungarian consumers, the innovation and technology ministry said on Sunday.

The extension of the cap by three months was announced by the prime minister in a keynote speech on Saturday.

The ministry said that in view of the fact that fuel prices have a significant impact on the prices of other products and the economy as a whole,

the government had decided last November to cap the price of 95 octane petrol and of diesel at 480 forints (€ 1.3) per litre at the pump.

That measure will remain in force until May 15, which is expected to curb inflation by 0.5 percent while ensuring one of the lowest consumer fuel prices in Europe, the ministry said in a statement.