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 does Hong Kong’s petrol pump price top the world? It has nothing to do with crude oil price?
  • 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
28 Apr 2020 - 1:12PM