Hungary faces possible diesel price surge as strategic fuel reserves dwindle

The Mfor fuel‑price monitor reported that Hungary’s oil company Mol warned its distributors that the strategic diesel reserve, previously used to keep prices low, has been largely exhausted. As a result, retailers will have to sell fuel at the regulated price set by the government, and the supply of discounted diesel may soon end.

Mol also noted that its Danube refinery is still operating below capacity after a previous accident, limiting its ability to meet domestic demand. The government has temporarily re‑opened part of the reserve to allow stations to buy diesel and gasoline at a lower price, but officials expect the protected price to be lifted once the remaining stock is used up.

Mfor forecasts that market prices will rise again next week, which could increase costs for transport and logistics and widen the price gap with neighboring EU countries such as Poland, the Czech Republic, Slovenia and Bulgaria where fuel remains cheaper. The potential spike poses a risk of higher consumer prices and economic strain if the reserve is not replenished.