Fuel prices have surged sharply amid the ongoing Iranian conflict. As wholesale prices for gasoline and diesel continue to rise almost daily, the Hungarian government has imposed a price freeze at filling stations. At current market prices, gasoline costs 643 forints per liter, standing 48 forints above the capped price, while diesel is priced at 699 forints, a difference of 84 forints, following another increase on Wednesday.
As Hungary Today reported, the government announced fuel price caps on March 9. Under the regulation, gasoline at filling stations may not exceed 595 forints (1.53 euros / 1 euro=488 forints) per liter, while diesel is capped at 615 forints (1.58 euros) per liter.
Hungary has introduced protected fuel prices to ensure affordable supply for its people, businesses, and farmers.
With the Ukrainian oil blockade threatening our supply, sanctions on Russian energy, and war in the Middle East disrupting global trade, Europe faces rising… pic.twitter.com/RvZDaHhOOx
— Orbán Viktor (@PM_ViktorOrban) March 11, 2026
Prime Minister Viktor Orbán stated that state reserve stocks would be released to help stabilize prices. He explained that
the capped price applies exclusively to vehicles with Hungarian license plates and registration.
The measure took effect at midnight on March 9.
The move came in response to a sharp rise in global crude oil prices driven by the conflict in the Middle East. Brent crude reached $120 per barrel, while the forint weakened against the dollar. Fuel prices were also pushed higher after supplies through the Druzhba oil pipeline were halted.
In a government information video released on March 12, Hungary’s capped fuel prices were compared with market prices across Europe.
Fuel prices have skyrocketed across Europe. In Germany, for instance, on March 16, the nationwide average price for one liter of Super E5 stood at around 2.11 euros. Diesel prices in Germany are also very high, often hovering near the 2 euro mark and in some cases exceeding it.
In the neighboring Austria, diesel prices on March 17 were similarly elevated, approaching 2 euros per liter.
Via holtankoljak.hu, hirado.hu; Featured image: MTI/Balogh Zoltán
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