Hungary government scraps price cap on fuels

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FILE PHOTO: Drivers wait for fuel at a gas station of Hungarian oil company MOL Group in Budapest, Hungary, December 5, 2022. REUTERS/Marton Monus

BUDAPEST (Reuters) – Hungary’s government scrapped a price cap on fuels as of 2300 CET on Tuesday after a lack of imports and panic buying led to fuel shortages across the country in the past days that oil and gas group MOL said created a “critical situation.”

Prime Minister Viktor Orban’s chief of staff told an extraordinary briefing that the government had to abolish the price cap, which was introduced a year ago, at MOL’s recommendation.

(Reporting by Krisztina Than; Editing by Mark Porter)