BUDAPEST, Nov 28 (Reuters) – Hungary can solely keep a gas value cap past Jan. 1 if oil shipments from Russia movement with out interruption and oil and gasoline group MOL’s refinery in Szazhalombatta operates repeatedly, the federal government mentioned on Monday.
Prime Minister Viktor Orban’s authorities launched the gas value cap in November 2021 to defend Hungarian customers from surging inflation however was compelled to slender its scope in July due to provide issues.
“We will solely keep this measure … if oil shipments from Russia arrive with out disruptions and the Szazhalombatta refinery operates repeatedly,” a authorities spokesman mentioned in an emailed reply to Reuters.
MOL (MOLB.BU) has quickly curbed gas deliveries to some retailers this month after oil provides from Russia by way of the Druzhba pipeline fell considerably beneath regular ranges.
Oil provide to elements of Central and Jap Europe by way of a bit of the Druzhba pipeline have been suspended quickly this month after a Russian rocket hit an influence station that’s near the Belarus border and offers electrical energy for a pump station.
Hungarian headline inflation (HUCPIY=ECI) rose to an annual 21.1% in October, from 20.1% in September, boosted by surging meals and vitality costs.
Reporting by Krisztina Than
Enhancing by Kirsten Donovan and David Goodman
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