Hungary bans fuel exports as prices surge
Source: Reuters
Hungary has banned the export of crude oil, diesel and 95-octane petrol amid rapidly rising fuel prices, said Economy Minister Márton Nagy, News.Az reports, citing Al Jazeera.
Nagy also announced that the government would release 45 days’ worth of state fuel reserves to help stabilise the domestic market.
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The move follows a statement by Prime Minister Viktor Orbán that Hungary would introduce fuel price caps to protect consumers and businesses from soaring costs linked to the ongoing war in the Middle East.
By Nijat Babayev
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