In recent weeks, fuel prices have risen steadily throughout Europe. In the EU, gasoline and diesel prices rose the most in Germany, but people in Sweden and Latvia also experienced similar price increases. The fuel price cap is still in force in Hungary, it protects people. However, the latest Brussels sanctions package, the embargo on Russian oil, would result in an unprecedented increase in prices, further raising the already sky-high prices in Western Europe, and would also threaten Hungary's supply.

In recent months, fuel prices have risen rapidly in Europe. This started due to the sharp increase in the world market price of crude oil, and the outbreak of the Russian-Ukrainian war further increased prices.

In Hungary, according to the government's decision, the fuel price cap is still in effect, thanks to which the price of diesel and gasoline cannot be more than HUF 480 per liter. This currently represents the lowest fuel price in the European Union, since

IT IS ALREADY IN WESTERN EUROPE, WHERE THE PRICE OF A LITER OF FUEL APPROACHES HUF 900.

In some countries, they are trying to counter the runaway fuel prices by reducing taxes. In Poland, for example, the government reduced the fuel tax from 23 percent to 8 percent at the beginning of February.

With this decision, they succeeded in reducing prices, but the net price will still increase, which after a while will also increase the gross price - in other words, it is not as effective as the Hungarian gasoline price cap.

Since the outbreak of the Russian-Ukrainian war, the price of diesel has risen the most in Germany, according to data published by the European Commission in the past few days. According to EU data published by Funke Mediagroup, from the days before the start of the war until April 25, the price of diesel per liter in Germany rose by 38 eurocents, but a similar increase could be experienced in Sweden and Latvia as well, the V4NA news agency pointed out.

Looking at consumer prices on May 10,

IN ALMOST HALF OF THE COUNTRIES OF THE UNION, YOU HAVE TO PAY MORE THAN HUF 700 FOR A LITER OF FUEL, AND IN SEVERAL PLACES PRICES APPROACH HUF 900.

If the EU's proposal to ban the import of Russian oil were to come into effect, it would seriously affect the stable Hungarian energy supply. This proposal is tantamount to an economic atomic bomb. The price of fuel in our country would rise by 55-60 percent.

A liter of gasoline would cost at least HUF 700 and a liter of diesel would cost HUF 800. The increase in price would also increase the price of all products. The country cannot stand this - said Péter Szijjártó in a video uploaded to his social media page.

The Minister of Foreign Affairs and Trade emphasized that pipeline oil transport should not be embargoed, only sea transport can be affected by the sanction. Hungary also represents this position in further negotiations.

 

Source: Origo / Hungarian Nation

Featured image: Ma7.sk