Economy 12 February 2024, 10:33am

Fuel prices to be raised sharply in Hungary

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Hungarian energy group Mol is to raise the wholesale gross list price of both petrol and diesel on Wednesday (14 February), fuel price tracking site holtankoljak.hu reported on Monday.

The wholesale gross list price of petrol will be raised by HUF 7 per litre and that of diesel by HUF 11 per litre on 14 February. With the planned change, we should find the following retail prices (on average) at the pumps as of Wednesday:

95-octane petrol: HUF 607/litre
Diesel: HUF 651/litre

By Wednesday, fuel prices will have gone up a lot since the end of 2023, though: HUF 37 (+6.5%) in the case of petrol and HUF 58 (+9.8%) in the case of diesel. You may get some consolation looking at end-2022 prices, but if you look further down the road, the smile will quickly turn into a frown.

This is how fuel prices changed in Hungary since the start of 2023. The price of both fuel types was last this high at the end of October.

This is how Hungarian fuel prices compared to prices in neighbouring countries last Wednesday:

Cover photo: Shutterstock

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