Gasoline prices may increase further with an increase in the fuel excise tax

In Hungary, the prices would go up a lot

According to the newspaper, Hungary has submitted a derogation request, in which it requests exemption from the fulfillment of the tax minimums by the end of 2023, i.e. from the obligation to raise the excise tax on fuels. If the European Commission does not accept the Hungarian party’s request, the tax rate may increase by HUF 32.5.

They reminded that after the entry into force of the latest EU sanctions package, the government could no longer maintain the official price of HUF 480 for fuel, which had been maintained for more than a year. In addition, as Zsolt Hernádi, CEO of Mol, indicated, the really great uncertainty will be brought about by the EU sanctions that will come into effect in February of next year, which will prevent the export of fuel made from Russian oil.