MOL will increase the gross wholesale list price of both gasoline and diesel by HUF 6 and HUF 3 per litre, respectively on Wednesday (10 March). As a result retailers will pay HUF 313.5 per litre for gasoline and HUF 287.9 per litre for diesel based on MOL list prices.

Although each petrol station has its own pricing model, drivers should expect to pay about HUF 6-3 more per litre for these fuel types at the pumps - HUF 330-331 for gasoline and HUF 303-304 for a litre of diesel oil.

MOL's move comes as no surprise, considering that gasoline rates rose by 7.2% in USD and 6.2% in HUF last week (by the end of Friday, as the forint has firmed some vs. the greenback to around 295.60 from 197.40) and diesel rates went up by 3.5% in USD and 2.5% in HUF terms.

Relative to the last price change (which we believe was 19 February), gasoline rates on the world market rose 5.6% by the end of last Friday and the increase in diesel rates came to 0.7%."

Source: Portfolio Online Financial Journal