Hungary's New Leader Peter Magyar Secures Fuel Price Stability with MOL

In a pivotal meeting, Hungary's newly elected Prime Minister Peter Magyar secured a commitment from MOL's executive chairman Zsolt Hernadi to maintain the current fuel price cap. This move comes amid a turbulent global market environment and ensures stable fuel prices for Hungary's consumers.

The price cap on petrol and diesel, first introduced by the outgoing Prime Minister Viktor Orban, will continue without impacting the national budget. Magyar emphasized that the next 20-30 days would be crucial for the new government as it navigates the economic landscape.

Following his party's election victory, Magyar also urged MOL to comply with legislation and not allocate a record dividend to the Orban-linked Mathias Corvinus Collegium. An annual general meeting had approved a higher dividend payment just before the election, raising questions about the future financial direction for MOL and its stakeholders.