Fuel prices are displayed at a PetroChina petrol station in Hong Kong. PetroChina is the most aggressive of the five fuel retailers in the city, spending HK$3.75 billion for 11 sites sold by government tender since April 2009. Photo: Bloomberg Fuel prices are displayed at a PetroChina petrol station in Hong Kong. PetroChina is the most aggressive of the five fuel retailers in the city, spending HK$3.75 billion for 11 sites sold by government tender since April 2009. Photo: Bloomberg
Fuel prices are displayed at a PetroChina petrol station in Hong Kong. PetroChina is the most aggressive of the five fuel retailers in the city, spending HK$3.75 billion for 11 sites sold by government tender since April 2009. Photo: Bloomberg

Why do Hongkongers pay sky-high prices for petrol when international oil remains at multi-year lows?

  • The cost of land on which petrol filling stations are built has risen by over 400 per cent in the last 10 years
  • Fuel retailers say there are a range of factors for the delay in lower prices to be reflected at the pump, including high inventory levels, government tax, salaries and land costs

Topic |   Energy
Fuel prices are displayed at a PetroChina petrol station in Hong Kong. PetroChina is the most aggressive of the five fuel retailers in the city, spending HK$3.75 billion for 11 sites sold by government tender since April 2009. Photo: Bloomberg Fuel prices are displayed at a PetroChina petrol station in Hong Kong. PetroChina is the most aggressive of the five fuel retailers in the city, spending HK$3.75 billion for 11 sites sold by government tender since April 2009. Photo: Bloomberg
Fuel prices are displayed at a PetroChina petrol station in Hong Kong. PetroChina is the most aggressive of the five fuel retailers in the city, spending HK$3.75 billion for 11 sites sold by government tender since April 2009. Photo: Bloomberg
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