Hungary extends fuel price cap: Difference between revisions

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{{Hungary}}
{{Hungary}}


On Saturday, Prime Minister [[Viktor Orbán]] announced a three-month extension of a {{w|price cap}} on standard {{w|motor fuel|motor fuels}} in [[Hungary]].<!-- annual message --> The cap came to effect on November 15 and would have ended tomorrow.<!-- uncapped prices could have been used starting on February 16; source: gazette, Bloomberg --> The government hopes to undercut inflation and help the economy with the move, but does not indemnify petrol stations for their losses.<!-- Euronews, Nov 11 briefing --> A {{w|2022 Hungarian parliamentary election|general election}} is scheduled for April 3 in the country, for which all but one<!-- Our Homeland Movement --> opposition parties currently in {{w|National Assembly (Hungary)|Parliament}} {{w|united}} to beat the ruling {{w|Fidesz-KDNP|Fidesz-KDNP alliance}}, now in its twelfth year in tenure.<!-- Reuters, see talk page -->
On Saturday, Prime Minister [[Viktor Orbán]] announced a three-month extension of a {{w|Price ceiling|price cap}} on standard {{w|motor fuel|motor fuels}} in [[Hungary]].<!-- annual message --> The cap came in to effect on November 15 and would have ended on Sunday.<!-- uncapped prices could have been used starting on February 16; source: gazette, Bloomberg --> The government hopes to undercut inflation and help the economy with this move, but does not indemnify petrol stations for their losses.<!-- Euronews, Nov 11 briefing --> A {{w|2022 Hungarian parliamentary election|general election}} is scheduled for April 3, for which all opposition parties currently in {{w|National Assembly (Hungary)|Parliament}} but one<!-- Our Homeland Movement --> have {{w|United for Hungary|united}} to beat the ruling {{w|Fidesz–KDNP|Fidesz-KDNP alliance}}, which is now in its twelfth year in tenure.<!-- Reuters, see talk page -->


[[File:Fuel price comparison - MOL - Hungary - November, 2021.png|thumb|left|Fuel prices before and after the price cap initiation at a {{w|MOL (company)|MOL}} petrol station in {{w|Szeged}}, Hungary {{image|paren=yes|[[:c:User:Xbspiro|Xbspiro]]}}]]
[[File:Fuel price comparison - MOL - Hungary - November, 2021.png|thumb|left|Fuel prices before and after the price cap initiation at a {{w|MOL (company)|MOL}} petrol station in {{w|Szeged}}, Hungary. {{image|paren=yes|[[:c:User:Xbspiro|Xbspiro]]}}]]
Orbán announced the extension in his annual speech, claiming {{translated quote|hu|Hungarian language|Az árstop itt is bevált, ezért három, további három hónappal meghosszabbítjuk.|the »price-stop« proved to be effective in this case too, so we extend it for an additional three months.}} The {{w|Magyar Közlöny|official gazette}} published corresponding government resolution No. 39/2022 a day later.<!-- on a Sunday!! --> A week before<!-- the MTI source article is dated to February 6; see notes -->, deputy finance minister<!-- see notes --> {{W|András Tállai}} said to news agency {{w|Magyar Távirati Iroda|MTI}} that tax authority checks on over 2000 fuel stations found no recurring price cap violations and the 12 violators were fined for a total of {{W|Hungarian forint|HUF}}3.2 million ([[United States dollar|USD]]10140).<!-- 444; February 6 --> {{translated quote|hu|Hungarian language|A kutak azonban betartják a szabályokat, ezt igazolja többek között az is, hogy ismételt jogsértés az elmúlt csaknem három hónapban nem történt.|The stations are in line with the rules set, which is reflected by the fact that no recurring violations have had happened in the past three months.}}, Tállai added.<!-- 444; February 6; 7:45 -->
Orbán announced the extension in his annual speech, claiming {{translated quote|hu|Hungarian language|Az árstop itt is bevált, ezért három, további három hónappal meghosszabbítjuk.|the »price-stop« proved to be effective in this case too, so we will extend it for an additional three months.}} The official gazette, {{w|Magyar Közlöny}}, published the corresponding government resolution No. 39/2022 a day later.<!-- on a Sunday!! --> A week earlier<!-- the MTI source article is dated to February 6; see notes -->, deputy finance minister<!-- see notes --> {{W|András Tállai}} said to news agency {{w|Magyar Távirati Iroda|MTI}} that tax authority checks on over 2000 fuel stations had found no recurring price cap violations but 12 violators were fined a total of {{W|Hungarian forint|HUF}}3.2 million ([[United States dollar|USD]]10140).<!-- 444; February 6 --> {{translated quote|hu|Hungarian language|A kutak azonban betartják a szabályokat, ezt igazolja többek között az is, hogy ismételt jogsértés az elmúlt csaknem három hónapban nem történt.|The stations are operating in line with the rules set, which is reflected by the fact no recurring violations have occurred in the past three months.}}, Tállai added.<!-- 444; February 6; 7:45 -->


Orbán said {{translated quote|hu|Hungarian language|Az üzemanyag ára nálunk az ötödik legalacsonyabb. Ma 480 forintot fizetünk, árstop nélkül jóval 500 forint felett járnánk.|we have the fifth lowest fuel price [in the [[European Union]]]. We pay 480 [Hungarian] forints [per liter, but] without the »price-stop« we would pay well over 500 forints.}} Price-aggregator site ''holtankoljak.hu'' put uncapped prices to HUF512 for gasoline, and HUF530 for diesel, and reported that wholesale prices exceed consumer prices since February 4. Based on the price aggregator's data, ''Napi.hu'' reported that three stations had closed permanently in the first week of February because of the price cap.<!-- 444.hu; February 6, 18:45 --> By law, the government can appoint new operators for closed stations.<!-- res. 626 5. § (2) -->
Orbán said {{translated quote|hu|Hungarian language|Az üzemanyag ára nálunk az ötödik legalacsonyabb. Ma 480 forintot fizetünk, árstop nélkül jóval 500 forint felett járnánk.|we have the fifth lowest fuel price [in the [[European Union]]]. We pay 480 [Hungarian] forints [per liter, but] without the »price-stop« we would pay well over 500 forints.}} Price-aggregator site ''holtankoljak.hu'' put uncapped prices to HUF512 for gasoline, and HUF530 for diesel, and reported that wholesale prices have exceeded consumer prices since February 4. Based on the price aggregator's data, ''Napi.hu'' reported three stations had closed permanently in the first week of February because of the price cap.<!-- 444.hu; February 6, 18:45 --> By law, the government can appoint new operators for closed stations.<!-- res. 626 5. § (2) -->


The government decided to introduce the HUF480 (USD1.52<!-- as of February 14 -->) price cap on November 10, then briefed the press about it next day<!-- Nov 11 -->. The official gazette published the related act, government resolution No. 624/2021, on the day of the announcement. Resolution No. 626/2021, published on November 13<!-- on a Saturday!! -->, detailed the procedure. The cap applies to {{w|Gasoline#Octane_rating|unleaded 95}} and standard diesel,<!-- res. 624 1. § (1) --> and does not cover {{w|liquefied petroleum gas}} (LPG) or premium fuels, but stations have to sell premium fuels at this price, if they do not sell standard ones.<!-- res. 626 2. § (2) -->
On November 10 the government had decided to introduce the HUF480 (USD1.52<!-- as of February 14 -->) price cap, and then briefed the press about it the next day<!-- Nov 11 -->. The official gazette published the related act, government resolution No. 624/2021, on the day of the announcement. The follow-up resolution No. 626/2021, published on November 13, detailed the procedure. The cap applies to {{w|Gasoline#Octane rating|unleaded 95}} and standard diesel,<!-- res. 624 1. § (1) --> and does not cover {{w|liquefied petroleum gas}} (LPG) or premium fuels, but stations have to sell premium fuels at this price, if they do not sell standard ones.<!-- res. 626 2. § (2) -->


[[File:Viktor Orbán 2016-02-17.jpg|thumb|left|File photo of Prime Minister [[Viktor Orbán]] {{image|paren=yes|Presidential Press Office, Russia}}]]
[[File:Viktor Orbán 2016-02-17.jpg|thumb|left|File photo of Prime Minister [[Viktor Orbán]] {{image|paren=yes|Presidential Press Office, Russia}}]]
In effect, the losses are incurred on petrol stations as they cannot negotiate wholesale prices. During the November 11 press briefing, spokesperson {{w|Gergely Gulyás}} said they do not plan to compensate for these losses,<!-- briefing @1:15:45 --> but added {{translated quote|hu|Hungarian language|kereskedőt kereskedelemre kötelezni nem lehet|vendors cannot be forced to vend}}. The following day, Hungarian Petroleum Association's secretary general Ottó Grád told {{w|ATV (Hungary)|ATV}} that owners of small, independent stations think about closing. In contrast to the press briefing, the detailed resolution dictates that petrol stations cannot close temporarily or shorten their opening hours.<!-- res. 626 2. § (1) and (6) -->
In effect, the losses are incurred by petrol stations as they cannot negotiate wholesale prices. During the November 11 press briefing, government spokesperson {{w|Gergely Gulyás}} said they do not plan to compensate for these losses,<!-- briefing @1:15:45 --> but added {{translated quote|hu|Hungarian language|kereskedőt kereskedelemre kötelezni nem lehet|vendors cannot be forced to vend}}. The following day, the Hungarian Petroleum Association's secretary general Ottó Grád told {{w|ATV (Hungary)|ATV}} that owners of small, independent stations may think about closing. In contrast to the press briefing, the detailed resolution dictates that petrol stations cannot close temporarily or shorten their opening hours.<!-- res. 626 2. § (1) and (6) -->


The government does not plan to reduce {{w|fuel tax|tax rates}} on fuel.<!-- Nov 11 briefing; still no update on this issue --> The oil bulletin of the [[European Commission]] showed last week<!-- data collection closed on February 7 --> that out of the total consumer price in Hungary, 47% is tax for unleaded 95, and 45% is tax for standard diesel.
The government does not plan to reduce {{w|fuel tax|tax rates}} on fuel.<!-- Nov 11 briefing; still no update on this issue --> The oil bulletin of the [[European Commission]] showed last week<!-- data collection closed on February 7 --> that out of the total consumer price in Hungary, 47% is tax for unleaded 95, and 45% is tax for standard diesel.


Cumulated data for 2021 by the Hungarian Petroleum Association shows that volume-wise unleaded 95 makes up for 78% of all gasoline, and standard diesel makes up for 87% of all diesel sales in the country. Between 2020 and 2021, year-on-year consumer prices for November 8 went up from HUF332 to 506 for unleaded 95, and from HUF341 to 517 for standard diesel, according to price-comparison site ''holtankoljak.hu''. 444.hu reported that degrading HUF-USD exchange rates caused prices to climb even in July, when crude oil prices were dropping.<!-- 444.hu (November 11), see talkpage -->
Cumulative data for 2021 by the Hungarian Petroleum Association shows that volume-wise unleaded 95 makes up for 78% of all gasoline, and standard diesel makes up for 87% of all diesel sales in the country. Between 2020 and 2021, year-on-year consumer prices for November 8 went up from HUF332 to 506 for unleaded 95, and from HUF341 to 517 for standard diesel, according to price-comparison site ''holtankoljak.hu''. 444.hu reported that the worsening HUF-USD exchange rates caused prices to climb even in July, when crude oil prices were dropping.<!-- 444.hu (November 11), see talkpage -->


The {{w|Hungarian Central Statistical Office}} reported a 7.9% year-on-year inflation for January. In his speech announcing the extension, Prime Minister Orbán claimed the fuel price cap lowered inflation by 0.5%.
The {{w|Hungarian Central Statistical Office}} reported a 7.9% year-on-year rise in inflation for January. In his speech announcing the extension, Prime Minister Orbán claimed the fuel price cap lowered inflation by 0.5%.


{{haveyoursay}} <br style="clear:left" />
{{haveyoursay}} <br style="clear:left" />
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*{{source <!-- used only for data on inflation (upper left corner of the main page) -->
*{{source <!-- used only for data on inflation (upper left corner of the main page) -->
|url = https://www.ksh.hu/?lang=en
|url = https://www.ksh.hu/?lang=en
|title = (English Main Page)
|title = [English Main Page]
|author =
|author =
|pub = Hungarian Central Statistical Office
|pub = Hungarian Central Statistical Office
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|pub = Hungarian Petroleum Association
|pub = Hungarian Petroleum Association
|date = February 14, 2022 (date of access)
|date = February 14, 2022 (date of access)
|archiveurl = https://web.archive.org/web/20220216080339/http://petroleum.hu/dokumentumok/uzemanyag-statisztikak/
}}
}}
*{{source
*{{source
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|pub = European Commission
|pub = European Commission
|date = February 10, 2022<!-- see the parent directory for publication dates: http://ec.europa.eu/energy/maps/maps_weekly_oil_bulletin/ -->
|date = February 10, 2022<!-- see the parent directory for publication dates: http://ec.europa.eu/energy/maps/maps_weekly_oil_bulletin/ -->
|archiveurl = https://web.archive.org/web/20220216073732/https://ec.europa.eu/energy/maps/maps_weekly_oil_bulletin/2022_02_07_taxation_oil_prices.pdf
}}
}}
*{{source
*{{source

Revision as of 08:32, 16 February 2022

Tuesday, February 15, 2022

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On Saturday, Prime Minister Viktor Orbán announced a three-month extension of a price cap on standard motor fuels in Hungary. The cap came in to effect on November 15 and would have ended on Sunday. The government hopes to undercut inflation and help the economy with this move, but does not indemnify petrol stations for their losses. A general election is scheduled for April 3, for which all opposition parties currently in Parliament but one have united to beat the ruling Fidesz-KDNP alliance, which is now in its twelfth year in tenure.

Fuel prices before and after the price cap initiation at a MOL petrol station in Szeged, Hungary. (Image: Xbspiro)

Orbán announced the extension in his annual speech, claiming "the »price-stop« proved to be effective in this case too, so we will extend it for an additional three months." ((hu))Hungarian language: ‍Az árstop itt is bevált, ezért három, további három hónappal meghosszabbítjuk. The official gazette, Magyar Közlöny, published the corresponding government resolution No. 39/2022 a day later. A week earlier, deputy finance minister András Tállai said to news agency MTI that tax authority checks on over 2000 fuel stations had found no recurring price cap violations but 12 violators were fined a total of HUF3.2 million (USD10140). "The stations are operating in line with the rules set, which is reflected by the fact no recurring violations have occurred in the past three months." ((hu))Hungarian language: ‍A kutak azonban betartják a szabályokat, ezt igazolja többek között az is, hogy ismételt jogsértés az elmúlt csaknem három hónapban nem történt., Tállai added.

Orbán said "we have the fifth lowest fuel price [in the European Union]. We pay 480 [Hungarian] forints [per liter, but] without the »price-stop« we would pay well over 500 forints." ((hu))Hungarian language: ‍Az üzemanyag ára nálunk az ötödik legalacsonyabb. Ma 480 forintot fizetünk, árstop nélkül jóval 500 forint felett járnánk. Price-aggregator site holtankoljak.hu put uncapped prices to HUF512 for gasoline, and HUF530 for diesel, and reported that wholesale prices have exceeded consumer prices since February 4. Based on the price aggregator's data, Napi.hu reported three stations had closed permanently in the first week of February because of the price cap. By law, the government can appoint new operators for closed stations.

On November 10 the government had decided to introduce the HUF480 (USD1.52) price cap, and then briefed the press about it the next day. The official gazette published the related act, government resolution No. 624/2021, on the day of the announcement. The follow-up resolution No. 626/2021, published on November 13, detailed the procedure. The cap applies to unleaded 95 and standard diesel, and does not cover liquefied petroleum gas (LPG) or premium fuels, but stations have to sell premium fuels at this price, if they do not sell standard ones.

File photo of Prime Minister Viktor Orbán (Image: Presidential Press Office, Russia)

In effect, the losses are incurred by petrol stations as they cannot negotiate wholesale prices. During the November 11 press briefing, government spokesperson Gergely Gulyás said they do not plan to compensate for these losses, but added "vendors cannot be forced to vend" ((hu))Hungarian language: ‍kereskedőt kereskedelemre kötelezni nem lehet. The following day, the Hungarian Petroleum Association's secretary general Ottó Grád told ATV that owners of small, independent stations may think about closing. In contrast to the press briefing, the detailed resolution dictates that petrol stations cannot close temporarily or shorten their opening hours.

The government does not plan to reduce tax rates on fuel. The oil bulletin of the European Commission showed last week that out of the total consumer price in Hungary, 47% is tax for unleaded 95, and 45% is tax for standard diesel.

Cumulative data for 2021 by the Hungarian Petroleum Association shows that volume-wise unleaded 95 makes up for 78% of all gasoline, and standard diesel makes up for 87% of all diesel sales in the country. Between 2020 and 2021, year-on-year consumer prices for November 8 went up from HUF332 to 506 for unleaded 95, and from HUF341 to 517 for standard diesel, according to price-comparison site holtankoljak.hu. 444.hu reported that the worsening HUF-USD exchange rates caused prices to climb even in July, when crude oil prices were dropping.

The Hungarian Central Statistical Office reported a 7.9% year-on-year rise in inflation for January. In his speech announcing the extension, Prime Minister Orbán claimed the fuel price cap lowered inflation by 0.5%.



Sources

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