Mol and the Hungarian Mineral Oil Association reacted to the government’s ultimatum

By RockedBuzz 8 Min Read

As we reported earlier, Márton Nagy also discussed the domestic fuel situation and prospects with the managers of Mol, including Péter Ratatics, the president of the Hungarian Mineral Oil Association and the managing director of Mol Consumption Services.

The Minister of Economic Development made it clear to the participants of the sector that he intends to moderate the increase in fuel prices by all possible means.

The minister also indicated that

  • requests reports on international and domestic price developments from the players of the sector on a monthly basis, respectively
  • about sectoral steps taken to moderate prices as soon as possible.

In response to the above the Hungarian Mineral Oil Association (MÁSZ) he wrote in his announcement: he understands the government’s aspects and concerns. It is in the interest of MÁSZ’s member companies and all market participants that the stability of the domestic fuel market is maintained – the association told MTI.

“The domestic fuel trade operates based on competition and the rules of market supply and demand. The member companies of MÁSZ and other players in the industry will do everything they can to ensure that the market balance is not damaged and that healthy competition prevails and that there is no security of supply risk,” the announcement states.

THE Mol in his reaction, it can be read that despite the significant burdens affecting the industry, he remains determined to ensure competitive fuel prices. According to the announcement, the company has been pursuing a retail price policy based on competition for years, Mol is in the middle of the Central European countries in terms of regional competition based pricing, and continues to strive to maintain its relative price position.

Development of the exchange rate of Mol

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