The number of new passenger car registrations in Hungary rose 48.7pc year-on-year to 11,879 in December, data compiled by the European Automobile Manufacturers’ Association (ACEA) show.

Hybrid electric and plug-in hybrid vehicles accounted for 57pc of sales, cars with petrol engines made up 26pc and vehicles with diesel engines 10pc. Fully-electric vehicles accounted for 6pc of sales. Sales of battery electric vehicles jumped 77.6pc to 753 during the period. For the full calendar year, new car registrations in Hungary rose 12.9pc to 121,611.

In a separate statement, the Energy Ministry said registrations of new battery electric cars had climbed 47.7pc in Hungary in January-December, at the fourth fastest pace in the European Union after Malta, Czechia, and Cyprus. The number of battery electric vehicles on Hungarian roads climbed over 70,000 in 2024, it added. The ministry noted a combined HUF 60bn in funding had been earmarked to subsidise EV purchases by businesses and charging network upgrades.

This is how the Hungarian government explains the significant rise in fuel prices

The US Treasury Department has slapped tough sanctions on Russia’s oil export shadow shipping fleet and related ship insurance companies, according to the Ministry of National Economy.

Consequently, China and India, the world’s largest oil importers, have to source more crude oil from other sources, such as the Middle East, Africa, and the Americas. This further increases the price of raw materials and also raises transport costs. In addition, demand for oil, especially in Europe and the US, may increase further during the cold winter months. As a result, Brent oil prices have risen by almost 10 percent in the past month.