Hong Kong authorities will issue weekly announcements on changes in international and local fuel costs from April, amid suspicions that businesses are raising prices prematurely due to the United States-Israeli war on Iran. The move was announced on Saturday by Secretary for Environment and Ecology Tse Chin-wan.
Hong Kong authorities will issue weekly announcements about changes in international and local fuel costs starting from April 1. The initiative follows mounting suspicions that businesses are prematurely raising prices amid the United States-Israeli war on Iran. Secretary for Environment and Ecology Tse Chin-wan announced the measure on Saturday during a radio programme. “We are currently collecting and organising data. Starting from April 1, we will release some comparison reports showing the trend of discounted prices from each fuel company in Hong Kong and international refined oil prices,” Tse said. He added: “We will release this information to the public once a week, allowing residents to monitor oil price changes more accurately.” Tse noted that the updates would help residents see if fuel companies are raising prices too quickly or slow to lower them. Hong Kong's fuel is mainly supplied by mainland China, according to the minister. Experts welcomed the move, though some suggested the government consider temporarily cutting fuel tax if prices soar.
