Orbán cabinet introduces additional measures amid looming fuel crisis

The Hungarian government has introduced a protected price for fuels—effective from midnight on Monday—while also reducing excise duties on petrol and diesel to the EU minimum level, and banning exports of crude oil, 95-octane petrol, and diesel, Economy Minister Márton Nagy announced in a Facebook post on Monday evening.

Details shared about the reintroduced fuel price cap

He wrote that the Iranian war and Ukraine’s oil blockade have driven international oil prices steeply higher. To shield families, businesses, farmers, and hauliers from the fallout, the government is capping retail fuel prices from midnight. The maximum price for 95-octane petrol will be 595 forints per litre, and for diesel 615 forints per litre, he emphasised.

Fuel suppliers will pass on 95-octane petrol and diesel to retailers at prices below the protected level. The cap applies only to vehicles with Hungarian registration plates and permits, he noted.

Security stockpile released, tax cut announced

The government has also decided to release its 45-day state security stockpile, he added.

To ease burdens and bolster supply security, excise duty on petrol will be cut by 19.25 forints per litre (from 158.8 to 139.55 forints), and on diesel by 20.48 forints per litre (from 148.76 to 128.28 forints).

In addition, the government is prohibiting exports of crude oil, 95-octane petrol, and diesel, and will crack down firmly on abusive trading practices, the post stated.

If you missed:

• Fuel restrictions imposed in Hungary: are we running out?
• How fuel prices in Hungary could be cut more predictably

Featured image: illustration. Long lines formed at gas stations across Beirut, the capital of Lebanon, following strikes by the United States and Israel targeting Iran and subsequent retaliatory actions on February 28, 2026. Source: Anadolu/Houssam Shbaro