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Unleaded 95-octane fuel cost HUF 283.5 (USD 1.46) per liter in the week of September 2, 3.4% more than at the beginning of August, while the average price of diesel fuel increased by 4.3% to HUF 271.5 (USD 1.40) per liter during August. Prices picked up especially in the last week of the month, rising a respective 1.7% and 1.9%.
In contrast, international quoting prices of FOB Med and FOB Rotterdam unleaded 95-octane gasoline increased by around 29% in USD terms in the past month, including increases of 18-23% in the last week of August alone. As for diesel fuel, FOB Med international quoting prices increased by around 17% during August and by 7% in the last week of the month alone.
The increase in domestic fuel prices was mitigated by the weakening of the US dollar during the month - calculated in dollars, unleaded 95-octane gasoline prices in Hungary were up 5.1% on the month, while the cost of diesel fuel rose 6.1%.
Meanwhile, the market price of Brent oil increased 8.0% to USD 65.9 per barrel in the period, in part already reflecting concerns over the effects on oil production of extreme weather conditions in the US. The price of lower quality Ural oil, the kind processed by MOL Hungarian Oil Company, was up 7.4% month on month to USD 60.5.
