Amid recent tensions in the Middle East, import price pressures on fuel-related projects have increased. Tse Chin-wan, Secretary for Environment and Ecology, stated on a radio program today (March 21) that authorities are collecting data and plan to publish weekly updates starting April 1, disclosing the discounted retail prices of unleaded petrol and diesel from major vehicle fuel suppliers, alongside international refined fuel market price trends.
This aims to allow the public to monitor the relationship between local retail fuel prices and global refined fuel prices, he noted.
Tse also said that with the central government providing special support, most of Hong Kong's fuel comes from the Chinese mainland, with petrol being 100% supplied from there. Hong Kong authorities, he said, have also been in contact with energy companies regarding the Middle East situation.
This week, the Environment and Ecology Bureau met with major local fuel suppliers, stressing that energy is vital to Hong Kong's economy and social operations, and urged suppliers to ensure a stable fuel supply. All suppliers confirmed that the current fuel supply is normal and pledged to maintain stability.
Regarding concerns over fuel price increases, suppliers stated that local fuel prices have remained restrained compared to sharp rises in international refined fuel prices and prices elsewhere. Crude oil and refined fuel are different products, so changes in international crude oil prices (such as Brent) do not necessarily align with retail fuel price adjustments. Additionally, local suppliers offer various discounts, so listed prices do not reflect actual retail prices.
The bureau emphasized it will continue to monitor geopolitical changes, international energy price trends, and work closely with suppliers to safeguard Hong Kong's energy supply stability.
Related News:
Soaring fuel prices in HK drive drivers to Shenzhen for cheaper gas
Comment