The government capped petrol and diesel prices at Ft 480 per litre for a period of three months from November 15 to rein in inflation.

László Molnár, head of market researcher GKI, expects the government to extend the price cap for political reasons.

Without the price freeze, one litre of fuel would cost Ft 520 per litre.

Global oil prices are expected to rise further from the current $93 a barrel, Molnár said.

The tax authority found just 12 violations of price cap rules after checking more than 2,000 petrol stations, said Finance Ministry state secretary András Tállai.