Gov't Considering Fuel Price Intervention
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Hungary's government will consider whether to enforce lower fuel prices after a review by the Central Statistical Office (KSH) of regional average price levels, Minister of National Economy Márton Nagy told online business daily Világgazdaság.
Last week, Nagy put pressure on fuel suppliers to cut petrol station prices closer to the Central European average as part of a broader government price-setting intervention after the worst inflationary surge in the European Union.
"The government's patience is running out [...]. We think that local fuel prices are 7% to 9% higher than the regional average," Nagy said in the interview.
The minister called the representatives of Hungary's Petrol Association and oil and gas group MOL to a meeting last Thursday after petrol prices in Hungary rose to HUF 642 (USD 1.75) per liter, above the regional average. The KSH will publish fuel prices and averages in neighboring countries this month, Nagy said in the interview.
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