Hong Kong authorities will offer a subsidy of HK$0.50 per litre on liquefied petroleum gas (LPG) from this Sunday to July 30 to ease the pressure of soaring fuel prices caused by the Middle East war on local transport companies, which run more than 20,000 vehicles from taxis to minibuses and school buses. A Hong…
Hong Kong authorities are facing mounting pressure from lawmakers to roll out more measures to rein in surging fuel prices, including a requirement for firms to disclose pricing formulas when bidding for petrol stations – an idea the environment minister said could be considered. Secretary for Environment and Ecology Tse Chin-wan told the Legislative Council…
Hong Kong customs officers have intercepted more cross-border trucks suspected of smuggling petrol into the city as fuel prices surge amid the war in the Middle East. Commissioner of Customs and Excise Chan Tsz-tat said on Wednesday that some of the vehicles had even enlarged their fuel tanks to carry more petrol for supplying illegal…
Authorities are communicating with local oil companies to monitor how the war in the Middle East is affecting Hong Kong’s fuel market, amid a public backlash over what has been called premature price hikes. Responding to a South China Morning Post inquiry on Tuesday, the Environment and Ecology Bureau also said the government had been…
Hong Kong’s transport sector is considering a temporary fuel surcharge for deliveries as pump prices are expected to climb further this week amid rising Middle East tensions, industry representatives have said. Ringo Lee Yiu-pui, governor and honorary life president of the Hong Kong, China Automobile Association, said on Monday that fuel prices in the city…
Hong Kong authorities have been urged to review the pricing mechanism for local fuel supplies after petrol retailers were accused of swiftly raising prices as conflict erupted in the Middle East, even though the city had not yet exhausted its weeks-long stockpile. Global fuel prices have soared since the US-Israel war with Iran broke out,…
Concerns about the durability of China’s growth and corporate earnings reports put Hong Kong stocks on track for their first weekly decline in nearly a month, as investors moved beyond their optimism about the outcomes of tariff talks. The Hang Seng Index retreated 0.2 per cent to 24,727.78 at the noon break on Friday. For…