Space fever fuels price cut at the pumps
Petrol station operator Sinopec has cut oil prices by almost one-fifth to celebrate the Shenzhou VII spacecraft delegation's arrival in Hong Kong today.
The company has reduced the price of all its unleaded petrol products by HK$2.50 a litre, from today.
This is a cut of more than 18 per cent for unleaded Sino Power, which has been reduced from HK$13.79 a litre to HK$11.29 per litre. The price of Sino X Power has fallen by about 17 per cent, from HK$14.63 a litre to HK$12.13.
The retail price of diesel remains unchanged at HK$8.65, but with discounts from 90 cents a litre to HK$1.50.
'Having been conferring support to China's space aeronautics sector, Sinopec is proud of the breakthrough the ... sector has achieved,' Sinopec said yesterday.
'Therefore, we would like to share the happiness with local drivers while the Shenzhou VII heroes visit Hong Kong.'
A spokeswoman for the Consumer Council welcomed the reduction, saying a price cut - for whatever reason - would benefit consumers.
The reduction is the company's third since last month and comes against a backdrop of falling global oil prices. Last month, Sinopec cut the price of unleaded petrol and diesel on November 18 and 27 by 80 cents a litre. Including the latest discount, it has reduced prices by a maximum of 22.6 per cent since last month.
The Shenzhou VII crew is due to arrive in Hong Kong this morning.
The 40-member delegation, including astronauts Liu Boming, Jing Haipeng and Zhai Zhigang - the first Chinese astronaut to perform a spacewalk - will meet local students, launch an exhibition about their mission at the Science Museum, attend a variety show and do some sightseeing.
They will stay in the city for four days before leaving for Macau on Monday. The delegation will meet 400 university students and 2,500 schoolchildren and their teachers at events tomorrow and on Monday.
