The head of Hungary’s largest network of fuel stations has warned that a government-mandated cap on fuel prices will lead to shortages if it is not lifted soon.
Zsolt Hernadi, CEO of Hungarian oil and gas company MOL,said in an interview published by ATV on July 11 that Hungary was facing an "extremely dangerous" situation as the fuel-price cap was driving up consumption.
"This raises the question of how long this can be done," said Hernadi, whose company has previously called for the cap to be phased out.
The retail price for both 95-octane gasoline and diesel fuel was capped at 480 Hungarian forints ($1.19) a liter last November.
The government of far-right Prime Minister Viktor Orban said it was introducing the cap to shield consumers from surging inflation. It currently is set to run until October.
MOL last month set a limit of 50 liters a day for passenger car drivers at its stations.
A government official told Reuters that fuel prices would be about double the current price without the cap.
The official added that the "government is constantly analyzing the state of the fuel supply and will make a decision on the price caps."