Hungary ends regulated fuel price caps on Saturday

Effective Saturday, a new Hungarian law removes the state‑imposed ("hatósági") price caps on gasoline and diesel. The legislation, published in the Magyar Közlöny, allows the minister responsible for trade policy to re‑introduce regulated prices through a decree if market conditions change dramatically, with fines ranging from 100,000 to 150 million forints and possible closure of non‑compliant stations.

The caps, set in March at 595 forints per litre for gasoline and 615 for diesel, were originally introduced by Prime Minister Viktor Orbán’s government in response to rising global oil prices amid the Iran‑Israel conflict. As market prices fell below the caps, the government decided to lift them, while retaining the option to use the strategic oil reserve and to set priorities for its release.

Independent, family‑owned stations have protested the loss of the caps, citing unsustainable losses and concerns over the minister’s broad authority to re‑impose prices at will.