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Petrol station in Hungary: relief at the petrol pump?
Photo: Panama7 / Getty Images
In view of rising fuel prices, the Hungarian government has officially set the maximum price for gasoline.
A liter of Super 95 and a liter of diesel may cost a maximum of 480 forints each from November 15th - that's the equivalent of 1.33 euros.
The regulation does not apply to other types of gasoline.
"We hope that this will help the economy and help curb inflation," said Chancellery Minister Gergely Gulyas to journalists in Budapest.
The Benz price cap will initially apply for three months.
The high fuel prices in Hungary - similar to Germany - caused heated political debates.
The next parliamentary elections will take place in Hungary at the end of April.
For the first time since 2010, Prime Minister Viktor Orban has to face a challenger who could challenge him for office.
In the last three parliamentary elections, his party alliance consisting of Fidesz and the also national-conservative KDNP won a huge leap.
A liter of super in Hungary currently costs an average of 506 forints, a liter of diesel 512 forints.
After the announcement by the minister, the share price of the Hungarian oil company MOL on the Budapest Stock Exchange fell by four percent.
mic / dpa-afx
