Hungarian Prime Minister Viktor Orbán convened the country’s defense and energy security councils Monday amid rising global oil prices and what he described as an “oil blockade” from Ukraine. The move signals growing concern over Hungary’s energy security as geopolitical tensions escalate in Eastern Europe and the Middle East.
Orbán announced the council meeting in a Facebook post, stating, “Oil price explosion. This is what led to the Ukrainian oil blockade and the situation in the Middle East.” He indicated he would make a further announcement soon.
Market participants have repeatedly stated in recent days that there is no problem with the supply of fuels,
with sufficient quantities available nationwide, though localized supply issues may occur temporarily.
The announcement follows Orbán’s comments Friday on the radio, where he suggested that both the conflict in the Middle East and regional impacts stemming from the situation with the Friendship Pipeline were contributing to rising gasoline and diesel prices.
Orbán acknowledged that prices are determined by traders and consumers, but added:
If this becomes unbearable and disrupts the balance of the Hungarian economy, then – although one doesn’t like to do such things – we will intervene with state tools. We have done this before, we have the knowledge, we have the experience, we understand the tools to do this. We will protect Hungarians from unbearable energy prices.
The issue is particularly sensitive ahead of parliamentary elections. In response, Péter Magyar, leader of the Tisza Party, urged the government Monday morning to intervene in the fuel market.
Tisza demands an immediate tax cut and government intervention in the fuel market!
Every means must be used to curb the runaway rise in gasoline and diesel prices, otherwise total chaos and collapse could occur, the opposition politician wrote.
In recent days, a weakening forint and soaring oil prices have led to noticeable price increases at gas stations. Wholesale prices rose by 7 forints per liter last week, which is now reflected in retail prices, bringing average prices to:
- 95-octane gasoline: 585 Ft/liter
- Diesel: 631 Ft/liter
Címlapkép forrása: MTI Fotó/Miniszterelnöki Kommunikációs Fõosztály/Fischer Zoltán
