"The price of diesel will be hiked by eight forints and the price of gasoline will go up by five forints per litre as of Thursday in Hungary, Portfolio.hu has learned on Tuesday.The price of petrol has not been raised by more than six forints a litre in a single step in the past year, but the current move may not be without grounds, considering recent crude price changes and the firming of the US dollar.
Hungary's oil and gas group MOL will raise the gross wholesale price of diesel by HUF 8 and that of gasoline by HUF 5 as of Thursday (instead of Wednesday, due to Whit Monday when markets were closed).
The hike takes the gross wholesale list price of diesel to HUF 312 per litre and a litre of gasoline will be delivered to retailers at HUF 292.4. For the public this means that there will be virtually no petrol station where gasoline will cost less than HUF 300 and diesel will cost less than HUF 320 a litre.
Last Monday MOL already increased its prices by HUF 3 in both categories. The series of price hikes could be entirely justified by developments of the world market, as the price of crude has broke one record after another last week while the HUF weakened some versus the USD (or more precisely, the greenback firmed against the Hungarian currency). "
Source: Portfolio Online Financial Journal
14.05.2008