Novinite.com
10 Mar 2026, 12:45 GMT+10
Hungary's government has moved to ban the export of crude oil, diesel, and 95-octane gasoline. Alongside this prohibition, the state plans to release fuel reserves sufficient to cover 45 days of domestic needs. The announcement was made by Economy Minister Mrton Nagy through a Facebook post, as reported by Reuters.
The day prior, Prime Minister Viktor Orban stated that Hungary would cap fuel prices as a measure to shield both consumers and businesses from escalating costs. The price ceiling applies specifically to vehicles registered within Hungary.
Orban also took the opportunity to urge the European Union to abandon its sanctions on Russian energy - a call that comes roughly five weeks before the country heads into pivotal parliamentary elections.
Rising oil prices, fueled by the ongoing war involving Iran, have pushed up diesel and gasoline costs globally. This economic pressure compounds the difficulties Orbn faces ahead of the April 12 vote, where he is fighting to hold onto a grip on power he has maintained for 16 years.
Get a daily dose of Switzerland Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Switzerland Times.
More InformationWashington started the war with Iran, but only Moscow may help end it US President Donald Trump's Monday night phone call to Russian...
European Commissioner for the Economy Valdis Dombrovskis signaled that the EU is prepared to release its strategic oil reserves should...
Hungary's government has moved to ban the export of crude oil, diesel, and 95-octane gasoline. Alongside this prohibition, the state...
New posts 16:13 Germany 'Concerned' That US, Israel Have No Planned End To War With Iran German Chancellor Friedrich Merz said...
The surge in wholesale energy prices is quickly feeding into consumer costs across Europe. Analysts warn the shock could extend beyond...
(260309) -- PARIS, March 9, 2026 (Xinhua) -- Photo taken on March 9, 2026 shows a price board at a gas station in Paris, France. The...
The United States has once again launched a war in the Middle East based on false claims about weapons of mass destruction. Like the...
MEXICO CITY, Mexico: To quell any security concerns ahead of the upcoming FIFA World Cup, following the wave of violence in Jalisco...
I think that this war is terrible, said Maggie Morales, a New Yorker. We know that this is something that only benefits him (President...
WASHINGTON, D.C.: The Trump administration has drafted strict new guidelines for civilian artificial intelligence contracts that would...
NASHVILLE, Tennessee: A reporter for a Spanish-language news outlet in Tennessee was arrested by U.S. Immigration and Customs Enforcement,...
WASHINGTON, D.C.: The new postmaster general of the U.S. Postal Service had warned in an interview that, unless Congress lifts a decades-old...
