Sharp Increase in Fuel Prices at the Beginning of 2022
Fuel prices in Hungary continue to rise, with another increase in domestic wholesale fuel prices reported today. According to the latest data from fuel price monitoring website Holtankoljak.hu, petrol now costs 3 forints more gross (0.007 euros) and diesel is 6 forints more gross (0.15 euros).
After the latest increase, the average price for 95-octane petrol is now at 639 forints (1.55 euros) per liter, while diesel costs 661 forints (1.60 euros) per liter from Thursday. It is worth noting that these are average prices, so prices may vary significantly at different stations, with higher prices typically seen on motorways.
This recent increase marks the fourth time in just over a week that fuel prices have gone up, with the most recent increase reported on Tuesday. At the end of 2024, a liter of 95-octane petrol was priced at an average of 617 forints, while diesel cost 637 forints.
The data indicates that both petrol and diesel prices have increased by around 20 forints in just over two weeks. Additionally, a recent regional fuel price comparison by the Hungarian Central Statistical Office revealed that the average petrol price in Hungary was 14 forints higher than the regional average, while diesel was 22 forints higher.
The sharp rise in prices can be partly attributed to an increase in excise duty on wholesale petrol and diesel in Hungary at the beginning of 2025. The excise tax hike on January 1 led to an almost 8 forint increase in fuel prices per liter.
Furthermore, unfavorable international economic developments, such as new US sanctions on the Russian oil industry, have contributed to further price increases. Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó warned of the impact of these sanctions on fuel prices, as they could reduce the region’s crude oil supply and lead to processing and price challenges.
The ongoing situation with fuel prices in Hungary is being closely monitored, with stakeholders working to minimize the impact on consumers. Stay tuned for further updates on this developing story.
