Hungary's Crude, Motor Fuel Reserves Replenished

Thanks to continuous restocking, by the second week of July, Hungary already had crude oil and fuel reserves equivalent to 87 days of imports, which is a major improvement compared to the low of 44 days recorded at the end of March, Minister of Economy and Energy István Kapitány has announced on social media.

He emphasized that, following the change in government, the strategic reserves were partially released via his first ministerial decree in order to maintain protected fuel prices. Since then, the market situation has improved, allowing for the rapid replenishment of reserves to begin.

The full volume of crude oil released at the beginning of the year has already been replenished, and replenishment will continue in the coming months with the start of winter-grade diesel production.

“We are working together with industry stakeholders to guarantee an uninterrupted fuel supply for the Hungarian people with a safety reserve that exceeds the mandatory level,” the minister stated.

In his post, István Kapitány noted that natural gas reserves are also in good shape; storage facilities are already more than half full, so preparations for the colder months are on track.