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Significant Price Cuts Announced for Petrol Stations in Hungary from Thursday

• 22 Aug 2024 6:20 AM
• Hungary Today

It has been a long time since the Hungarian fuel market has seen such a big price cut, writes Világgazdaság. The question is to what extent the wholesale fuel price cut will reach the petrol stations.

The price fall is expected from Thursday, according to a recent report by Holtankoljak.hu.

The fuel price monitoring blog reported on the wholesale price change, saying that domestic fuel prices will fall significantly after the national holiday of August 20. This means, to be precise, that

- the wholesale price of petrol will be HUF 8 (1 EUR = 392 HUF) less gross from Thursday,
- while diesel will be HUF 6 less gross.

This is the biggest price fall in Hungary for months. However, the question is to what extent this will be reflected in retail prices. Motorists will find out tomorrow, Thursday August 22, at the latest.

In any case, the following average prices are currently known:
* petrol: HUF 612 per liter,
* diesel – HUF 613 per liter.

It is important to stress that these are average prices, and experience shows that the actual price at the moment is around HUF 610 per liter for petrol and HUF 611 for diesel. If the HUF 8 and HUF 6 gross price cuts are passed on to vehicle owners, the typical retail price of both types of fuel could fall to around HUF 605.

In any case, overall, from January to now (with the emphasis on the wholesale level) the price of petrol has increased by HUF 54 per liter and the price of diesel by HUF 26.

True, HUF 41 is due to the mandatory excise duty increase in January. Excluding this, petrol prices have risen by HUF 13, while diesel prices have fallen by HUF 15. After an increase of around HUF 30-50 per liter, an average 50-liter tank of petrol costs HUF 1,500-2,500 more than in December last year.

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