Government Recognizes Voluntary Fuel Price Cut
Hungary’s Minister for National Economy, Márton Nagy, recently praised fuel retailers for voluntarily reducing their prices in alignment with the government’s intentions. In a video shared on Facebook, Nagy highlighted the government’s goal of matching petrol and diesel prices with the regional average and commended fuel distributors for understanding and embracing this objective.
One significant move in this direction was made by MOL, the national oil company, which implemented a HUF 10 intraday price reduction for both petrol and diesel on May 1. Nagy expressed his satisfaction with this step and emphasized the progress made in reducing fuel prices compared to previous peaks.
Despite these positive developments, Nagy acknowledged that further measures are needed to address ongoing price competition in the market. He mentioned that the government plans to reassess the fuel price situation in an upcoming meeting to evaluate if expectations have been met.
Moreover, Nagy disclosed that the government is considering a proposal from fuel distributors to use the average fuel price of neighboring countries as a benchmark instead of the regional average. This proposal will be deliberated upon in the government’s efforts to ensure fair and competitive fuel prices for consumers.
As the government continues to monitor and respond to fluctuations in fuel prices, Nagy’s statements highlight a collaborative effort between the government and fuel retailers to achieve pricing alignment in the region.
The Minister’s proactive approach and willingness to engage with industry stakeholders demonstrate a commitment to ensuring that consumers benefit from more affordable fuel prices in Hungary. Stay tuned for further updates on this evolving situation.
