MOL will reduce the gross wholesale list price of both gasoline and diesel by HUF 6 and HUF 5 per litre, respectively on Thursday (27 May). As a result retailers will pay HUF 320.5 per litre for gasoline and HUF 302.9 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 6-5 less per litre for these fuel types at the pumps - HUF 337-338 for gasoline and HUF 319-320 for a litre of diesel oil.

MOL's move comes as no surprise, considering that gasoline rates declined by 7.4% in both USD and HUF last week (by the end of Friday, as the forint was virtually unchanged vs. the greenback at around 271.70/80) and diesel rates went down by 8.1%.

MOL has not reduced its fuel list prices since 20 January and a cut of similar magnitude has not been carried out since 30 September 2009."

Source: Portfolio Online Financial Journal