Hungarian fuel prices reach record high: government will reintroduce price caps?

Fuel prices are above HUF 600 (EUR 1.56) again in Hungary, which was the average price of last November. Therefore, infostart.hu asked Gergely Gulyás, the minister of the prime minister’s office on the last cabinet briefing whether the government plans to reintroduce fuel price caps. Here is the answer.

According to holtankoljak.hu, fuel prices decreased significantly last December. For example, the average gasoline 95 price was just a bit over HUF 561/l at the end of the year.

However, due to an EU regulation, the fuel tax had to be increased in Hungary. As a result, prices started to go up in January and broke the HUF 600 level this week.

Therefore, infostart.hu asked Gergely Gulyás, the minister of the Prime Minister’s Office, whether the government would like to reintroduce fuel price caps again. The Orbán cabinet introduced the fuel price cap in 2022, before the elections and abolished it in December 2022, after the fourth consecutive landslide victory over the joint opposition. That was a must because even MOL highlighted that the country would run out of fuel provided the price caps remained in effect. Long queues at petrol stations had become a usual sight by then in Hungary.