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Price Cap Policy on Fuel Continues to Deliver Pain to Filling Stations

Chancellor Minister Gergely Gulyás said in yesterday’s Government Information Briefing that the government would soon determine the fate of several different fixed price policies, but he believed that the measures had basically been successful. However, gas station owners would likely disagree with him from their perspective.

The price cap on fuel over the past six months has made gas retailers unprofitable and is not sustainable for the long run, Ottó Grád, Secretary General of the Hungarian Petroleum Association, told Népszava.

While Hungary’s larger oil and gas companies are not threatened with bankruptcy, it will take years for them to work off the losses they’ve accumulated once the price cap policy ends, he added. [Népszava]

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