Hungary's government scrapped a price cap on fuels on Tuesday after a lack of imports and panic buying led to fuel shortages across the country in the past days that oil and gas group MOL said created a "critical situation."
Prime Minister Viktor Orban's chief of staff told a briefing late Tuesday the government had to abolish the price cap, which was introduced a year ago, at MOL's recommendation immediately. The price cap was set to expire at the end of December.
