"As of July 23, oil and gas company MOL will slash the gross wholesale price of motor fuels by HUF 5 per liter, selling gasoline and diesel for respective list prices of HUF 294.40 and HUF 315.90 per liter to retailers, Portfolio.hu learned.Although each gas station follows its own pricing model, drivers can generally expect a similar cut in retail prices to approximately HUF 310 per liter for gasoline and HUF 330 for diesel.
In light of last week's global trends, the price cut does not come as a surprise as the latest data shows prices have declined in dollar terms as well, with gasoline and diesel prices down 5.1% and 6.9%, respectively.
Meanwhile, the Hungarian forint made continued gains against the dollar last week, with the exchange rate down to 144 last Friday from 145 a week earlier. As a result, the change in the global price of both motor fuels in forint terms is even more significant than in dollars: -5.5% and -7.3%
The last update in the MOL wholesale price list took place on June 18, when both types of fuel became HUF 5 more expensive. The last price cuts were on April 9, when only the price of diesel went down, as opposed to the HUF 4 price cut on March 27 for both fuels."
Source: Portfolio Online Financial Journal
22.07.2008