Commodities News

Hungary to extend fuel price cap beyond April 3 vote, Orban says

BUDAPEST (Reuters) – Hungary’s government has decided to extend a cap on fuel prices for another three months beyond its expiry due on Tuesday, Prime Minister Viktor Orban said in his annual state of the nation speech on Saturday.

“The price cap has worked, therefore we are extending this for another three months,” Orban said. That means a rule capping retail fuel prices at 480 forints ($1.53) per litre will be in place until May 15, after a parliamentary election due on April 3.

($1 = 313.9900 forints)

Source: Reuters

© Reuters. FILE PHOTO: A man poses with a gasoline pump at a Budapest petrol station January 19, 2011. REUTERS/Bernadett Szabo

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