Mol warns protected fuel price could trigger severe shortages in Hungary

Mol issued a press release warning that reinstating a protected fuel price in Hungary would instantly push out imports, creating a shortage of both diesel and gasoline. The firm pointed to recent geopolitical setbacks, including the Hormuz Strait tension and Ukrainian strikes on Russian energy infrastructure, which have taken the two largest diesel and kerosene exporters off the market. Additionally, diesel shipments from India and Turkey to the EU have fallen sharply due to EU sanctions on Russian crude-derived products.

Lower water levels are making it harder to transport incoming shipments inland, and scheduled maintenance at European and American refineries will further reduce output. The timing is critical as the next two months mark the peak diesel demand season in Europe. Mol emphasized that while domestic retail fuel prices remain below the EU average, maintaining price alignment with neighboring countries is essential to keep importers willing to supply the market.