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Hungary no longer caps the price of fuel for companies and increases the Mol profit tax

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​According to the announcement made on Saturday by Gergely Gulyas, Prime Minister Viktor Orban’s chief of staff, the new measures would restrict eligibility for capped price gasoline and diesel only to cars owned by individuals, agricultural vehicles and taxi meters. Therefore, cars owned by companies will be excluded, writes Reuters, quoted by Hotnews.

Gulyas specified that the new rules regarding the capped fuel price came into force starting at noon on Saturday.

He stated that the measure was necessary as MOL’s main refinery on the Danube will be shut down from Monday for maintenance work, which will considerably reduce the supply of fuels on the domestic market, although the government will also release up to a quarter of the reserves fuel strategies of the country, to help ensure supply.

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“It is important to state that the government can keep fuel prices capped at 480 forints per liter for retail consumers,” Gergely Gulyas also stated in a press conference.

The Budapest government announced last November that gasoline and diesel prices cannot exceed 480 forints (1.19 euros or 1.21 dollars) per liter at gas stations, below the current prices of over 500 forints. Also, in February, the prices of some basic foods were capped.

A few weeks ago, the general director of the Hungarian oil and gas company MOL, Zsolt Hernadi, warned in an interview that the fuel price cap in Hungary should be removed, as it would “sooner or later” lead to shortages .

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The government decree published on Saturday also provides for an increase in the tax on MOL’s extraordinary profits to a percentage of 40%, from 25%, starting on August 1.

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