The sale of secondary-market parking spaces plunged to a two-year low in the third quarter as soaring fuel prices dampened vehicle buying interest, according to Ricacorp Properties. An Exxon Mobile spokesman said the price of petrol this month hit a historical high of $13.08 per litre, up 10.37 per cent from $11.85 in February. According to figures released by Ricacorp, 840 parking spaces changed hands in the third quarter, down 49 per cent from the previous quarter. The total value also dived 53 per cent to $340 million. 'It is the lowest since 2003,' Ricacorp director Louis Ng Chap-keung said. The latest figures were well down on the average 1,000 deals recorded quarterly over the past two years, he said. Mr Ng said an investor had offered 174 parking spaces at Whampoa Garden and Hung Hom Bay Centre in Hunghom through tender sale. Cheung Kong (Holdings) also released a number of parking spaces at City One Sha Tin and Laguna City in Lam Tin for sale. Mr Ng expects the transaction volume to pick up 20 per cent to above 1,000 deals in the fourth quarter. During the third quarter, Ricacorp said the number of transactions for parking spaces at Ocean Shore in Tseung Kwan O dropped 65 per cent from the second quarter to 29. The average price for a parking space at Ocean Shore was $354,000, up 2 per cent from the second quarter, the property agency said. The number of transactions at Kingswood Villa in Tin Shui Wai declined 12 per cent to 15 in the third quarter with an average price of about $240,000 each. Among the 10 housing estates surveyed, prices at Whampoa Garden recorded the biggest drop of 15 per cent to about $580,000 each.