Hungary is introducing limits on retail prices of petrol and diesel due to rising oil prices on world markets following the war in the Middle East. Hungarian Prime Minister Viktor Orbán announced this after an extraordinary government meeting.
„We are introducing limits on retail prices of petrol and diesel. The price cap for petrol will be 595 forints (1.51 EUR) and for diesel - 615 forints (1.56 EUR). We will open state strategic reserves to guarantee supplies“, Orbán said in a video address broadcast on the M1 television channel.
He specified that only drivers of vehicles “with Hungarian license plates and registration documents“ will be able to buy gasoline and diesel fuel at the reduced prices. “In addition to private individuals, we will extend this measure to farmers, freight forwarders and entrepreneurs“, the prime minister said. The new prices will come into effect on March 10.
According to Orbán, the government hopes to protect the interests of Hungarian citizens in a context in which “oil and fuel prices are rising across Europe due to the war in Iran“. He also noted that Hungary remains subject to the “Ukrainian oil blockade“.
Russian oil has not been flowing into Hungary via the “Druzhba“ pipeline since January 27. As a result, Hungary and Slovakia have asked Croatia to allow the transit of Russian crude oil via the Adriatic pipeline. Budapest has responded to Kiev by blocking a “military loan“ from the EU worth €90 billion for it.