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MOL: Crude supply stable; MOL operating at full capacity

The supply of crude oil to Hungary is stable and MOL's stocks and refinery capacity are sufficient to meet the country's demand for vehicle fuel, the oil and gas company told MTI late Wednesday.

MOL is following global market trends and is weighing measures necessary to ensure consistent supply of vehicle fuel across the country, it said in a statement.

MOL is operating at full capacity and supplying “the usual volume” of vehicle fuel; inventories and production offer a stable foundation for uninterrupted supply, it added.

MOL chairman-CEO Zsolt Hernadi said the load on petrol stations must be returned to earlier levels, noting increased demand driven, in part, by lorries taking advantage of a diesel price cap in force in Hungary. He added that lorries pay 100-150 forints per litre less to top up their tanks in Hungary than in neighbouring countries.

Hungary’s government has capped retail and wholesale vehicle fuel prices at 480 forints (EUR 1.25) per litre to ease higher inflation.

MOL said global crude prices have climbed recently, and a number of European countries have stopped buying oil from Russia because of the war in Ukraine, making it difficult to supply refineries.

“MOL has no such problem: it is supplying the usual volume of vehicle fuel and ensuring consumer demand is met,” it added.

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