Hungarian fuel stations go bankrupt en masse, supply chain in danger?
Fuel supply problems are expected to persist as fuel importers do not really feel the urge to bring fuel into the country, causing problems for quite a few other sectors, as well as gas stations.
10% of Hungarian petrol stations could go bankrupt
According to experts, the price cap sent 10% of domestic gas stations, about 200 units, into complete ruin,
and the stations in the worst financial situation will sooner or later end their business, whether they receive money from the state or not and whether the price cap for the purchase of fuel will stay or not.
Due to the wholesale fuel price cap, the wholesalers responsible for about 30% of the fuel supply withdrew from the domestic market, leaving only the Hungarian-owned MOL, writes HVG.
Other sectors are also affected by the petrol crisis – transport and agricultural problems
Another problem, in addition to the financial situation of petrol stations, is that freighters do not receive more than 100-200 litres of fuel, making it impossible to plan a longer journey.
Farmers involved in agriculture also complain that they do not have access to fuel for their machines, and although they have been given the opportunity to refuel at residential petrol stations, they also claim that filling stations close to rural, agricultural areas are particularly affected by fuel supply disruptions.
The state eventually reduced the excise tax
Last Thursday, at an unusual time, at 10:30 p.m., Gergely Gulyás, the Minister in charge of the Prime Minister’s Office, and Zsolt Hernádi, the President and CEO of MOL, announced that the government would reduce excise duty on diesel.
In any case, this provision was intended to remedy the financial problems of service stations due to the price cap, but this move does not really seem to be too effective.
The government has also made a decision to act against those who spread rumours of a gasoline supply disruption or shortage, says rtl.hu.
Petrol tourism could also cause a shortage
The representatives of carriers have repeatedly indicated that foreign carriers refuelling in Hungary should be restricted or banned, as those crossing several countries take advantage of the price cap in Hungary, refuel their trucks, causing a shortage of stocks in the current difficult situation.
This is also supported by the fact that there was a shortage of fuel, mainly diesel, at the stations near the motorways and at the border, and it later spread to other locations.