Hungary Caps Gasoline, Diesel Prices, Vows to Release Strategic Reserves Amid Iran Oil Blockade

Hungarian Prime Minister Viktor Orban arrives for the EU summit at Alden Biesen Castle in Bilzen-Hoeselt, Belgium, on Feb. 12, 2026. Francois Walschaerts/AP PhotoHungary has introduced a price cap for gasoline and diesel in response to the rising price of energy as a result of the Iranian oil blockade and the loss of oil flow from the damaged Russian Druzhba pipeline.The Hungarian government said in a March 9 statement that it would set the price cap for gasoline at 595 forints ($1.80) per liter—about $6.80 per gallon—and for diesel 615 forints ($1.86) per liter, or $7.04 per gallon, and that retail prices cannot exceed these amounts.