Shortages in the fuel supply have long been causing problems at filling stations in many places in Hungary. Now there is panic buying. In particular, the fuels, which are still capped by the state, have run out at many pumps. The state-owned mineral oil company MOL emphasizes that more imports are needed, but there are no prospects.
Since the government extended the fuel cap to wholesale prices in the spring, most importers have been put off because they could only sell the fuel, which was expensively bought abroad, cheaply in Hungary, MOL director György Bacsa told MTI news agency on Tuesday.
Gasoline demand twice as high as last year
Last week, demand for petrol was twice as high as in the same period in 2021, and for diesel 150 percent. Where the daily turnover at MOL filling stations is normally around five million litres, it was eight million liters last Tuesday, the director emphasized.
The supply situation is further exacerbated by maintenance work at the important Szazhalombatta refinery near Budapest. These took longer than planned due to various technical problems. According to Hungarian media, a quarter of the country’s gas stations have had to close, at least temporarily.
Is the price cap coming soon?
Activities are currently ramping up again after a one-month hiatus. But even MOL’s full capacity could not cover the demand of the Hungarian market. According to Otto Grad, secretary general of the Hungarian Petroleum Association, the fuel shortage will continue until the fuel price brake is lifted. In November 2021, the government has capped the price of petrol (95 octane) and diesel at 480 forints (1.17 euros) per liter – initially for all customers, but due to massive tank tourism, the cheaper fuel has only risen since the summer sold to drivers with vehicles registered in Hungary.
Source: Krone
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