Published by Global Banking & Finance Review®
Posted on April 16, 2026
2 min readLast updated: April 16, 2026
Add as preferred source on GoogleHungary’s incoming PM Péter Magyar will meet MOL chief Zsolt Hernádi to address fuel supply security amid disrupted Russian pipeline flows and seek to block a hefty dividend to MCC, connected to Viktor Orbán; MOL had approved a HUF220–220.4 bn dividend earlier.
BUDAPEST, April 16 (Reuters) - Hungary's election winner Peter Magyar said he met the executive chairman of oil company MOL, Zsolt Hernadi, on Thursday and they agreed to maintain a current fuel price cap even after his new government is formed by mid-May.
"MOL has confirmed that an uninterrupted fuel supply of Hungary is guaranteed despite a turbulent global market situation," Magyar said in a statement on Facebook.
Magyar said the price cap, imposed by outgoing Prime Minister Viktor Orban in early March amid soaring oil prices, would remain in place both for petrol and diesel prices domestically and this would not burden the budget. He did not say when the measure could be phased out.
Magyar's centre-right Tisza (Respect and Freedom) party won a landslide victory in Sunday's election, ending nationalist Orban's 16-year rule.
Orban released some state fuel reserves after a halt in Russian oil supplies through a key pipeline via Ukraine in January that Kyiv says was damaged in a Russian air attack. Magyar said on Wednesday that the government's actions over the next 20-30 days will be vital.
Magyar has also said he expected MOL not to pay out a record dividend to Orban-linked Mathias Corvinus Collegium (MCC) educational institution and think tank. After the meeting, he said "MOL would act in compliance with relevant legislation."
MCC was granted 10% of MOL's shares, previously owned by the state, by Hungary's Fidesz-dominated parliament in 2020. The institution was also given 10% of shares in Hungary's pharma company Richter.
MOL's annual general meeting approved a total dividend payment of 241 billion forints ($779.03 million) for 2025, about 9% higher than the year before on April 10, just before the election.
($1 = 309.3600 forints)
(Reporting by Krisztina Than and Anita Komuves; editing by Philippa Fletcher and Nick Zieminski)
Peter Magyar is meeting MOL chief Zsolt Hernadi to discuss the security of Hungary's fuel supply and the planned dividend payment to an institution linked to his predecessor.
State fuel reserves were released after a halt in Russian oil supplies through a pipeline affected by damage during a Russian air attack in Ukraine.
Mathias Corvinus Collegium, tied to former Prime Minister Orban, was granted 10% of MOL’s shares by Hungary's parliament in 2020.
In early March, Orban imposed a cap on fuel prices due to rising global oil and fuel costs.
MOL’s annual general meeting approved a total dividend payment of 241 billion forints ($779.03 million) for 2025, about 9% more than the previous year.
Explore more articles in the Finance category
