Fuel prices experienced positive changes starting from Friday.

From Friday, there will be positive adjustments in fuel prices, with petrol decreasing by HUF 3 per liter and diesel witnessing an even larger reduction as petrol stations pay HUF 5 less to wholesalers.

Anticipating that gas stations will pass on these discounts to vehicle owners, the projected average prices from April 12 are as follows: 95 petrol at HUF 641 per liter and diesel at HUF 653 per liter.

Currently, until midnight on Thursday, the average price of 95 petrol stands at HUF 644 per liter and diesel at HUF 658 per liter. It’s important to note that these are averages and actual retail prices may vary. For instance, fuel tends to be approximately HUF 50 more expensive per liter near motorways.

Since January, the wholesale price of petrol has increased by HUF 102 per liter and diesel by HUF 80. However, HUF 41 of this rise is attributed to the mandatory increase in excise duty in January. Excluding this, the increase stands at HUF 61 for petrol and HUF 39 for diesel. This rise translates to an additional cost of HUF 4,000-5,000 for an average 50-liter tank of petrol compared to December last year.

The current reduction in fuel prices is somewhat unexpected, as previous cuts were isolated or partial, targeting either petrol or diesel. The last simultaneous reduction occurred at the end of February, about a month and a half ago, when average prices for both petrol and diesel were at HUF 615 and HUF 647 per liter, respectively.

Traders may have reinstated this double reduction in response to the government’s concerns regarding Hungarian pricing. This is evidenced by the upcoming meeting between government representatives and MOL and the Hungarian Petroleum Association, hosted by the Minister for National Economy, Márton Nagy. While such discussions are not new, this meeting is notable for Nagy’s advance indication of potential regulatory actions.