Hungary Cuts Excise Tax on Fuels, Releases Strategic Reserves

Hungary will lower its excise tax on gasoline and diesel fuel to the EU minimum level, according to a social media post from economy minister Marton Nagy.

• Excise tax on gasoline lowered by HUF19.25 to HUF139.55 per liter, while the same tax on diesel lowered by HUF20.48 to HUF128.8 per liter
  • Regulation takes effect today, according to gazette
  • The government will release part of the country’s 45-day strategic fuel reserves, ban exports of crude and refined fuels
• NOTE: Hungary Introduces Fuel Price Cap After Oil Costs Surge

To contact the reporter on this story:
Marton Kasnyik in Budapest at mkasnyik1@bloomberg.net ...