Fuel prices at record highs
Wednesday’s price hike took gasoline prices in Hungary to an all-time high, according to a report from Index.hu.
Fuel prices have increased again today: gasoline has become more expensive by 5 HUF, while the cost of a liter of diesel has become 2 HUF higher. In the last month alone, the price of gasoline rose by HUF 24, while diesel prices rose by HUF 16.
The latest price increase means that the average price of a liter of petrol (95 octane) is HUF 451. A liter of diesel now costs HUF 447.
This means that the price of gasoline has practically hit its all-time high, since the last time a liter of gasoline cost that much was in April 2012, when diesel is only a hair’s breadth away. below the record level. While oil prices were higher in 2012, hovering around $ 100 a barrel compared to around $ 75 today, the Hungarian forint has weakened considerably over the past nine years (one USD was worth around 230 HUF in 2012 compared to over 300 HUF today).
In addition, the pandemic caused by the coronavirus has made current prices even more sky-high than last year. Barring a “miracle” in the oil market or a strengthening of the forint, further price hikes are likely, the report notes.
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