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Esso plays down chances for higher prices at SAR pumps

Energy
Jo Bowman

Rising crude oil prices do not necessarily lead to higher prices at Hong Kong petrol stations, according to Esso. 'The retail oil price in Hong Kong is determined by quite a number of different factors,' an Esso spokesman said yesterday. 'The international price is one of them, but the pump price also depends on the market situation, administrative costs and land costs. It's hard to say that the international price and the Hong Kong price is a one-to-one ratio.'

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