More Hong Kong drivers head to mainland China to refuel as oil prices rise
Previously, residents were topping up their tanks once or twice a month, but they are now making weekly trips, automobile association says
Hong Kong drivers are increasingly heading to mainland China to replenish their tanks as global oil prices surge, while the city’s consumer watchdog has urged local suppliers to consider what people can afford and adopt prudent sales strategies.
Motorists are exploring different ways to cope with rising fuel costs as the conflict in the Middle East pushes up oil prices. Ringo Lee Yiu-pui, governor and honorary life president of the Hong Kong, China Automobile Association, highlighted a sharp rise in the number of local drivers crossing the border to refuel due to a widening price gap.
Authorities raised mainland petrol and diesel prices by 695 yuan and 670 yuan (US$101 and US$97.50) per tonne respectively from midnight on Tuesday – the fourth increase since January 1 and the largest in recent years amid surging international oil prices.
“Even after a slight price increase on the mainland, fuel there remains roughly one-third the cost in Hong Kong. As a result, many private cars eligible under the northbound travel scheme, along with those holding cross-border licences, are heading to border points in Shenzhen and Zhuhai to refuel,” Lee said.
As of Thursday, petrol prices at stations in Shenzhen and Zhuhai ranged from 7.66 yuan to 10.29 yuan per litre for various options. They remained significantly lower than Hong Kong’s pump prices, which surpass HK$30 per litre for both petrol and diesel.
Lee noted that Hong Kong drivers previously headed north mainly for leisure, with topping up petrol as an afterthought – perhaps once a month or twice at most.