When submarine telecommunication cables are involved (as in your example), then latency will certainly be higher the further you are from that cable's landing station. Your ISP can no more shorten that network delay then I could speed up your voice echo across the Grand Canyon.
To illustrate this, here are traceroutes from different geographic POPs to natsuki.mplayerhq.hu. Note how each origin traverses a common route, but the delay is ~40% lower when starting from DC than from LA. Just for fun, I also included from Zurich, since that's the last intermediate hop. Very speedy!
If it makes you feel any better, there could be someone over in Hungary experiencing the same latency when connecting to a server near you.