Hungary ends protected fuel-price scheme, easing pressure on independent stations

The Hungarian government announced the termination of its protected fuel-price system that had kept gasoline at 595 forints per litre and diesel at 615 forints per litre for four months. Economic and Energy Minister István Kapitány said the market now allows a return to normal pricing and noted that the strong forint reflects the recent policy shift. Small‑station owners, represented by the Independent Gas Station Association, said the intervention had been catastrophic for their businesses and welcomed the change, while warning that the minister retains authority to reinstate the scheme if needed.

Across Europe, the sharp rise in oil prices triggered by the Iran‑Israel conflict has boosted electric‑vehicle demand. Registrations of new pure‑electric cars in May rose 34 % year‑on‑year in 17 European countries, accounting for nearly a quarter of all new car registrations. Renault CEO François Provost and Ford Europe head Jim Baumbick said the surge in fuel costs has driven many customers toward electric models, though they cautioned that a sustained trend will depend on broader market factors such as affordable EV offerings and the availability of cheap Chinese models.