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fuel restrictions in hungary over price cap worries

Fuel Restrictions In Hungary Over Price Cap Worries

Sunday, June 26, 2022 | Tag Cloud Tags: EU, Euro, Europe, European Union, Hungary, ISIS, News, oil, Worthy News
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By Stefan J. Bos, Chief International Correspondent Worthy News

BUDAPEST (Worthy News) – Fuel restrictions were introduced in Hungary Friday as concerns mounted over an impending energy crisis linked to a government price cap, executives said.

Passenger car drivers can refuel a maximum of 50 liters (13.3 gallons) per day at filling stations owned by Hungary’s MOL and Austria’s OMV.

The measure came amid a run on fuel, with Hungarians even carrying jerry cans to fill up caused by the government’s price ceiling of 480 Hungarian forints ($1.27) per liter of petrol or diesel.

Prime Minister Viktor Orbán introduced the price cap until October to protect consumers from the highest inflation in two decades.

With a few exceptions, the government limited the lower liter price to cars with Hungarian number plates. This has led to a conflict with the European Union. The company MOL urged the government to end the price cap citing the threat of fuel shortages.

Hungary said it was releasing part of its strategic oil reserves for OMV to purchase and distribute inside Hungary to prevent fuel shortages following an incident at OMV’s refinery near Vienna.

That has done little to ease concerns about possible fuel difficulties in the European Union nation of nearly 10 million people.

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