"The price of gasoline and diesel will be raised by two and four forints per litre, respectively in Hungary on Wednesday, Portfolio.hu has learned on Monday. Based in international price changes the move appears to be less justified than the hikes delivered last week.According to Portfolio.hu's information, MOL will raise its gross wholesale list price of gasoline and diesel to HUF 294.4 and HUF 315.9 per litre, respectively on Wednesday.
The price hike means that gasoline will not be available for less than HUF 310 per litre and the retail price of diesel is unlikely to be found below HUF 330 per litre at any Hungarian petrol station from Wednesday
Last Thursday MOL upped the gross wholesale list price of gasoline and diesel by HUF 5 and HUF 8, respectively.
Portfolio.hu viewpoint
We regard the move as surprising and changes in international quotation prices does not fully justify the hike. Owing to the firming of the HUF, the price of gasoline and diesel dropped by 1.1% and 0.3% in forint terms, respectively last week, although in USD terms there was a respective increase of 1.6% and 2.4%."
Source: Portfolio Online Financial Journal
19.05.2008