One week after the vote in Slovenia, price caps on motor fuels are lifted. The maximum price of petrol and diesel was set at 1.5 euros by the Ljubljana government, but starting 1 May, market prices will be at play. The Jansa government lost its parliamentary majority a week ago with the green party garnering victory. In Hungary, the price freeze on petrol remains in place. In Serbia, on the other hand, the price of petrol went up quite a bit, by nearly 10 cents a litre.

One week after elections fuel prices could skyrocket

The government’s price cap on fuel comes to an end in Slovenia on 1 May. Experts forecast a sharp rise in the price of petrol and diesel at the pump when prices are determined by the market. The Ljubljana cabinet decided in March to cap the retail price of the 95-octane petrol at 1.503 euros while the maximum price for diesel was fixed at 1.541 euros. The price caps expire on Sunday, and according to information from the news portal B92, they will not be extended.

The Slovenian government stated that the price caps achieved their intended goal in curbing inflation and currently, no major fluctuations can be seen in the market for petroleum products. Nevertheless, reduced excise duties on energy will remain in place. Fuel prices are expected to reach the Eurozone average in Slovenia also, the Ministry of Economic Development said. Retailers’ estimate the price of petrol to jump to 1.6 euros and the price of diesel to 1.8 euros within a matter of days.

According to Slovenian press reports, not only fuel prices could go up steeply from 1 May, but so too, can that of electricity as the measure that disallowed suppliers from including other network charges in the bills will also expire.

Slovenia voted last Sunday

The right-wing Slovenian Democratic Party, led by Prime Minister Janez Jansa, was unable to secure a majority in last Sunday’s parliamentary elections. The vote was won by the newly launched centre-left Freedom Movement, led by Robert Golob, who was unable to celebrate victory with his party colleagues on election night as he tested positive for the coronavirus.

In a video message, he told supporters that his party will work hard to prove that they deserve their voters’ trust.

Photo: Facebook

Six days after the vote, the environmentalist party appears to have a lot to prove as prices are likely to escalate out of control in the former Yugoslav republic.

Price freeze remains in place in Hungary

Hungary’s government has decided to extend the price caps on some staple foods and fuels by another two months, Prime Minister Viktor Orban announced this week. As also reported by V4NA, in a video posted on social media, the premier noted that prices were going up across Europe primarily due to the war. „Until the war is over, prices will keep rising,” Viktor Orban said, pointing out that for this reason, the government looked at the issue of fuel and food prices at Wednesday’s meeting and arrived at the conclusion that further action was needed to tackle the price hikes. In Hungary, diesel and regular petrol cost 479 forints, the equivalent of 1 euro 27 cents.

Fuel prices on the rise in Serbia

Serbia’s government has also imposed limits on fuel prices. As part of this measure, prices are reviewed along with external developments and consumer fuel prices established for the coming week take effect every Friday from 3 pm. Last time, both diesel and petrol prices went up sharply, by roughly 10 dinars or approximately 10 euro cents. Price caps on 95-octane petrol and euro diesel are set at 184 dinars and 206 dinars per litre, respectively, until next Friday, when the Ministry of Trade will update prices.

This means that petrol costs 1 euro 56 cents a litre while diesel 1.75 euros in Serbia. Thus, it is worthwhile for people living in areas near the border to take a short ride and refuel in Hungary. By filling up a 50-litre tank, clever drivers may save as much as 15 euros.