Hungarian Minister Proposes Fuel Price Intervention Amid Rising Oil Prices and Discrepancies

At a press conference held at the Ministry of National Economy, Minister Márton Nagy announced his intention to propose an intervention on fuel price regulation to the government. He emphasized that the measure would not lead to supply issues, stating that lower profit margins did not mean selling fuel at a loss. The Minister also revealed that he would ensure regional statistics based on EU data are regularly published every Friday, expressing concerns about price trends not aligning with previous agreements.

Minister Nagy discussed the proposed fuel price intervention in detail during an interview with Index, confirming his intention to present it at the upcoming cabinet meeting. However, he admitted that specifics were yet to be developed. He also highlighted the importance of sticking to regional averages in the proposal and clarified that petrol prices would deviate by 3% and diesel by 5% from the average. Furthermore, Minister Nagy stated that this adjustment was necessary due to the increase in oil prices caused by conflicts in the Middle East.

The Minister emphasized that while retailers may feel overcharged, families would ultimately benefit from this decision. He also discussed tax cuts and addressed Hungary’s average tax rate in comparison with regional averages. The Minister clarified that reducing profit margins would not force retailers to sell fuel at a loss and stressed the importance of aligning regional prices and investigating any discrepancies, such as “molecule” prices.

In conclusion, Minister Nagy pledged to take corrective action if pricing differences were found to be due to unfair factors and promised accountability for any party responsible for price disparities. The government’s decision regarding fuel price regulation is expected to be proposed and discussed at the upcoming cabinet meeting.