Hungary FM Sounds The Alarm: Hungarian Families Face Drastic Price Hikes + Video

Europe is drifting toward a severe energy crisis. Due to the war situation and declining reserves, prices are rising sharply, Peter Szijjarto warned. According to the minister of foreign affairs and trade, in such a situation it would be particularly dangerous to phase out cheap energy sources, as this would bring drastic increases in utility and fuel costs for Hungarian families.

Szijjártó Péter külgazdasági és külügyminiszter Forrás: MTI

He added that the Gulf War previously blocked five percent, and at the same time natural gas reserves in Europe are rapidly declining: by now, gas storage facilities in the European Union hold only nine percent of the bloc’s annual gas demand.

It is no coincidence, he said, that in recent weeks the European economy has had to endure a 60 percent increase in gas prices and a 70 percent rise in oil prices.

– So what should be done in such a situation? The supply of gas and oil on the European market should be increased, but since there is neither Arab oil, nor Russian oil, nor Russian gas on the European market, price increases are dramatic, and under these circumstances it would have tragic consequences for Hungary, Hungarian families, and the Hungarian economy if the so-called energy transition plan of the Tisza Party were to be implemented, the minister stressed. He explained that the Tisza Party had been exposed a few days earlier, when a document became public in which they state their intention to phase out Russian crude oil and natural gas, thereby abolishing utility price caps and eliminating the protected fuel price védett .

This would mean for Hungarian families that monthly utility bills would triple, while gasoline prices would rise to 1,000 forints; assuming two refuelings per month at 50 liters each, this would result in an additional 40,000 forints in fuel costs, along with tens of thousands of forints more in utility expenses—together amounting to an extra 100,000 forints per month for families if the Tisza Party were able to implement Brussels’ energy policy.

– he said. Of course, we are working to ensure that this does not happen. This, too, is an important stake of the parliamentary election. It is clear that the Tisza Party does not shy away from any means, as they are lobbying in Brussels for the European Commission to force the Hungarian government to abolish the protected fuel price.

This would mean an immediate gasoline price of 1,000 forints. — We cannot allow this. We are fighting for cheap energy sources, we are fighting for utility price caps, and we are fighting for the protected fuel price. This, too, is what is at stake in the April 12 election,

– Mr. Szijjarto emphasized.

Peter Szijjarto, Minister of Foreign Affairs and Trade, delivers a speech at the inauguration ceremony of the Hód Plast Ltd. facility in Algyo (Photo: MTI/Tamas Olah)