The transport sector’s demand for oil is less price sensitive than any other part of the economy. This is partly because demand for transport services is relatively insensitive to price and partly because substitutes for oil in road transport are currently far from cost-effective. Evidence...

After the parliamentary elections, Viktor Orbán, leader of the FIDESZ-Magyar Polgári Párt (Alliance of Young Democrats-Hungarian Civic Party), received a mandate from the president of the republic to form a government and to submit his government programme to parliament. He was elected by...