BUDAPEST, March 9 (Xinhua) -- Hungarian Prime Minister Viktor Orban on Monday announced a cap on retail fuel prices, citing rising oil prices linked to the war involving Iran and disruptions in oil transit through Ukraine.
In a video message posted on social media, Orban said the surge in international oil prices had also reached Hungary, with fuel prices beginning to rise sharply across Europe. He said the government had decided to protect Hungarian families, businesses and farmers from the impact of higher energy costs.
Under the measure, the government will set a maximum retail price for fuel. The cap will be 595 forints (1.75 U.S. dollars) per liter for gasoline and 615 forints (1.8 U.S. dollars) per liter for diesel, according to Orban.
The prime minister said Hungary would also release oil from state reserves to ensure stable supplies.
The capped prices will apply only to vehicles with Hungarian license plates and registration documents. In addition to private individuals, the measure will also cover farmers, transport operators and businesses.
Orban said the measure would take effect at midnight. ■