Fuel traders in Hungary have been given a two-week deadline to lower fuel prices

The Hungarian government has granted fuel traders a two-week deadline to reduce fuel prices to the regional average on their own initiative, the Ministry of Economy in Budapest announced on Thursday. Otherwise, the government will intervene.

The Minister of Economy informed at a meeting with representatives of fuel traders that the government has analyzed in detail the situation on the fuel market. He said that there is a war, and there are war prices on the fuel market, which means a heavy burden for families. The real solution would be peace, but until then, the government is making efforts to reduce the prices of war, because families should not have to bear the price of war, according to a press release from the ministry, taken over by MTI, according to News.ro.

During the meeting, Márton Nagy presented the cabinet’s decision, according to which the government requires fuel retailers to voluntarily adjust their prices to the regional average, which is published every Friday and is determined by the Central Statistics Office using an objective methodology.

Fuel traders have two weeks to do this, according to the release.

The Minister of Economy emphasized that the government has identified a positive evolution of fuel prices recently, which brought the price closer to the regional average for both gasoline and diesel. However, in order to reach the regional average price, additional price reductions are needed for diesel and especially for 95 petrol, as this is the only way to avoid government intervention.

Read also: Hungary wants to cap fuel prices again. “The Government’s patience is running out”

Publisher: BP

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