In an exclusive interview with Index, Hungary’s Minister for National Economy, Márton Nagy, expressed his intention to propose an intervention on fuel price regulation to the government. The minister stated that he was confident that this measure would not result in supply issues and emphasized that lower profit margins did not mean selling fuel at a loss.
At a press conference held at the Ministry of National Economy, Minister Nagy provided further details about the proposed intervention. He confirmed his intention to propose the intervention and stressed the importance of sticking to regional averages in the proposal. According to him, petrol prices would deviate by 3% and diesel by 5% from the regional average. He also highlighted the necessity of this adjustment due to the increase in oil prices caused by conflicts in the Middle East.
Furthermore, Minister Nagy emphasized that while retailers may feel overcharged, families would ultimately benefit from the government’s decision. He discussed tax cuts and pointed out Hungary’s average tax rate in the region while addressing discrepancies between local fuel prices and 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 that may arise, such as “molecule” prices.
In conclusion, Minister Nagy pledged to take corrective action if pricing differences were determined to be due to unfair factors and promised to hold accountable 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.
