Photo: Shutterstock.com
Hungary’s government is putting a cap on the price of petrol and diesel fuel whose prices have recently soared in the country in the midst of spiraling inflation.
Fuel prices there are one-third higher than they were at the beginning of 2021, with the price of petrol having reached EUR 1.37/litre. As of Monday, the government’s measure will reduce that to EUR 1.32/litre. Inflation, high crude oil prices and increasing demand for fuel have driven prices sky high across Europe.
Relatively speaking, the price of fuel is not as high in Hungary as many other places in Europe; in fact, the EU average for one litre of petrol is EUR 1.66, according to Eurostat.
Prime Minister Viktor Orban announced the pricing cap on his Facebook page, writing that it would last for three months. It is likely a move to show that he is curbing inflation before Hungary’s parliamentary elections, which are scheduled for spring 2022.
Meanwhile, Hungary’s inflation rate for October was 6.5%.
Romania’s government has approved a repeat presidential election in May after institutional chaos and controversy…
NATO deployed a multinational flotilla off the Estonian coast at the weekend to defend undersea…
Poland's presidential election campaign has officially begun, ahead of a pivotal vote for the Central…
US President Donald Trump's inauguration ceremony on Monday, 20 January, broke with tradition and extended…
Croatian President Zoran Milanovic secured a decisive re-election victory, defeating his conservative challenger in a…
Although Romania joined the Schengen free travel area at the beginning of 2025, international trains…