Leaked MOL Internal Letter Calls for Fuel Price Reduction
Fuel prices in Hungary witness slight decreases amid government and industry interventions.
In early 2025, Hungary's fuel prices have markedly increased, reflecting a trend seen in previous months.
As of December 31, 2024, the average price of petrol stood at 617 HUF per liter and diesel at 637 HUF per liter, both experiencing an approximate 30 HUF rise, according to Holtankoljak.hu.
Addressing these price hikes, Hungary’s Ministry of National Economy released a statement on January 18, underscoring the government's objective to keep domestic fuel prices below the average of neighboring countries.
During the reference period, petrol prices in neighboring countries averaged 637 HUF per liter, while Hungary's average was one HUF lower.
Conversely, diesel in Hungary averaged a price one HUF higher than the 654 HUF per liter seen in surrounding nations.
Per the most recent European Commission data, Hungarian fuel prices align with regional averages.
The government, as stated by the ministry, remains ready to intervene if this balance is disrupted.
Despite this official stance, concerns remained palpable, prompting Prime Minister Viktor Orbán to address the situation.
Highlighting an impending energy crisis in Europe, Orbán described the developments at Hungarian petrol stations as 'outrageous' and 'infuriating.' He emphasized the importance of protecting the sole remaining gas pipeline from Russia to Hungary, which traverses Serbia.
In response to government pressures and public disquiet, on January 21, MOL's Retail Fuel Pricing team issued an internal circular urging retailers within its network to adjust prices.
Despite stable wholesale rates, retail prices dropped by 2 HUF per liter for both petrol and diesel, effective from midnight.
The communication advised retailers to ensure these changes were reflected at main registers and on price displays.
This adjustment reflects a significant, albeit small, measure in addressing the upward trajectory of fuel costs in Hungary, revealing ongoing tensions between ensuring consumer affordability and managing market dynamics.
As of December 31, 2024, the average price of petrol stood at 617 HUF per liter and diesel at 637 HUF per liter, both experiencing an approximate 30 HUF rise, according to Holtankoljak.hu.
Addressing these price hikes, Hungary’s Ministry of National Economy released a statement on January 18, underscoring the government's objective to keep domestic fuel prices below the average of neighboring countries.
During the reference period, petrol prices in neighboring countries averaged 637 HUF per liter, while Hungary's average was one HUF lower.
Conversely, diesel in Hungary averaged a price one HUF higher than the 654 HUF per liter seen in surrounding nations.
Per the most recent European Commission data, Hungarian fuel prices align with regional averages.
The government, as stated by the ministry, remains ready to intervene if this balance is disrupted.
Despite this official stance, concerns remained palpable, prompting Prime Minister Viktor Orbán to address the situation.
Highlighting an impending energy crisis in Europe, Orbán described the developments at Hungarian petrol stations as 'outrageous' and 'infuriating.' He emphasized the importance of protecting the sole remaining gas pipeline from Russia to Hungary, which traverses Serbia.
In response to government pressures and public disquiet, on January 21, MOL's Retail Fuel Pricing team issued an internal circular urging retailers within its network to adjust prices.
Despite stable wholesale rates, retail prices dropped by 2 HUF per liter for both petrol and diesel, effective from midnight.
The communication advised retailers to ensure these changes were reflected at main registers and on price displays.
This adjustment reflects a significant, albeit small, measure in addressing the upward trajectory of fuel costs in Hungary, revealing ongoing tensions between ensuring consumer affordability and managing market dynamics.
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