Record-high fuel prices and crazy trends on the Hungarian roads!

On Wednesday, the average price of petrol per litre in Hungary will increase by HUF 2, by which it is expected to reach a new record after last week’s historical peak. Besides crazy fuel prices, a crazy trend has also started on the Hungarian roads that can even cost human lives. Experts draw attention to the importance of driving in a responsible way.

After last Friday’s significant increase in the average price of petrol per litre (↑ 5 HUF) and diesel per litre (↑ 6 HUF), a new increase in fuel prices can be expected this week as well. According to the Hungarian news portal Portfolio,

the average price of 95 petrol per litre will increase by HUF 2, reaching the historical peak of HUF 456/litre.

The average price of diesel per litre remains unchanged at HUF 449 that is also very close to the historical peak of HUF 450.1 registered in 2012.

Read also: Increasing fuel prices in Hungary – When will the trend stop?

Domestic fuel prices are affected by several factors, including the world market price of crude oil, refinery margins, taxes and the exchange rate of the forint against the dollar. As Portfolio reports, several important changes have taken place in recent weeks. After lengthy negotiations, the oil powers have agreed that since August, production volumes can increase by 400,000 barrels a day every month, and the existing 5.8 million barrels constraint will terminate gradually until September 2022. Due to the spread of the delta virus variant spread, market participants were also concerned that coronavirus epidemic-related infection rates were on the rise again in several countries. This has led investors to take more defensive positions instead of riskier assets, which has also pushed oil prices down.

In addition to crazy fuel prices, a crazy trend has also started on the Hungarian roads that can even cost human lives.