The Hungarian government plans to raise natural gas prices by between 10% and 11% for residential users and by about 8% for industrial users and public institutions from July 1, national daily Nepszabadsag said Saturday, citing unnamed sources.
The rise will be necessary because of rising crude oil prices because the price of imported gas is based on the crude price, and Hungary imports nearly all of its gas.
The new gas price will reflect a crude price of $90 a barrel, the paper added.
Current crude prices make it likely that another gas price hike of at least 10% will be necessary from Oct. 1, Nepszabadsag said.