Today, Friday, gasoline prices will witness a slight decrease at Hungarian gas stations, while the price of diesel will remain unchanged. index mentioned.
Last Monday, the price of diesel rose slightly (3 forints), but the price of gasoline did not change. according to holtankoljak.huOn the first day of December
The price of gasoline will decrease by 3 forints, while the price of diesel will remain unchanged for the rest of the week.
Thus, the last month of the year will begin with the following average prices:
- Gasoline 95: 577 Hungarian forints (1.52 euros) per litre
- Diesel: 604 cfm (1.59 euros) per litre.
index I recently summarized the factors behind current petrol and diesel prices. as they are mentionedMarket fundamentals have not changed. Energy expert Joseph Balogh said there is still an operational refinery and the same pipelines are used to transport oil as before, but there are still economically unjustified developments in the fuel market. He added that
The most likely scenario is lower retail fuel prices because MOL Group received a significant discount on mining margins.
“What is happening in the fuel market cannot be explained by market processes. Perhaps this is why a political agreement was reached between the government and the MOL Group. (…) Thanks to the recently signed agreement, the additional mining fees paid by the company are reduced to a maximum of 400 -450 million dollars for 16 months starting from September this year,” Balog stressed, saying that fuel will definitely rise by 41 forints from next year due to the increase in excise tax.
Meanwhile, Otto Grad, Secretary General of the Hungarian Petroleum Association, noted this
The price change can also be explained by market developments.
He summarized the matter by saying that the lower mining tax is mainly related to natural gas production, and has nothing to do with fuel prices. It is believed that the decline in prices can be explained by international economic trends.
However, the international situation remains unfavorable. The World Bank warned earlier that a record rise in oil prices could be expected if the war in Israel escalates. In its analysis, it highlighted the possibility of a repeat of the 1973 oil crisis if the conflict extends beyond the Gaza Strip.
Oil prices may rise to $157 per barrel.
“In such a scenario, global oil supplies would decline by 6 to 8 million barrels per day, similar to the 1973 oil crisis, and prices would initially rise by 56-75 percent, to between $140 and $157 per barrel.” books. Moreover, it should be noted that the current energy market is already tight and sensitive mainly due to the Russian-Ukrainian war and the resulting sanctions.
In the World Bank’s best-case scenario, global oil supplies would fall to 2 million barrels per day in the event of a “minor disruption,” similar to the decline seen during the 2011 Libyan civil war.
Via Index, featured image via Pixabay