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Connor Mycroft

Hong Kong authorities have been urged to review the pricing mechanism for local fuel supplies after petrol retailers were accused of swiftly raising prices as conflict erupted in the Middle East, even though the city had not yet exhausted its weeks-long stockpile.
Global fuel prices have soared since the US-Israel war with Iran broke out, disrupting traffic along the Strait of Hormuz – the key waterway that handles about 20 per cent of the world’s oil shipments.
The price of Brent crude, the international oil benchmark, climbed to US$92.69 a barrel on Friday, up from US$72.87 on February 27, the day before the conflict broke out.
According to the Consumer Council’s Oil Price Watch, pump prices for regular petrol were between HK$30.49 and HK$30.59 per litre on Saturday, while the cost of premium petrol was as high as HK$32.39 per litre.
In a statement issued on Friday, the Hong Kong, China Automobile Association criticised what it described as “unfair” price increases for fuel in the city, arguing that the petrol currently on sale would have been bought before the outbreak of the conflict.
In the third quarter of 2025, Hong Kong had about 67 days’ worth of storage tank stock of unleaded motor gasoline and 15 days’ worth of aviation fuel, according to the Census and Statistics Department.
“The rising oil prices have increased the burden on Hong Kong drivers and significantly increased operational pressure on the transport industry,” the Automobile Association said.
“The association … urges oil companies to expand their low-cost procurement channels and adjust prices in a timely manner in line with international oil prices to alleviate the pressure on citizens and the industry.”

Speaking to the South China Morning Post, transport sector lawmaker Lothair Lam Wing-fung said he agreed with the association that immediate price increases “appear unfair” given the weeks-long supply at local depots.
He said the forward pricing expectations were passed on to consumers “prematurely”.
“The government must step up to monitor the local fuel market closely, conduct a transparent review of pricing mechanisms, and engage with fuel suppliers to ensure that pricing is fair, justified and not driven by unwarranted speculation – especially given the existing stock levels highlighted by the Automobile Association,” he said.
He also called for “targeted support measures” for players in the sector most affected by the price increases, such as small-scale operators and public transport providers.
Ringo Lee Yiu-pui, the association’s honorary life president, agreed that the rising costs were directly affecting the livelihoods of those who depend on fuel for work.
He cited the case of a food delivery driver who needed to take on more orders to offset the price increase.
“This illustrates how fuel hikes translate into longer working hours for transport workers to maintain the same income,” he said.
Hong Kong has long held the dubious distinction of having the highest pump prices in the world, with prices earlier this week about three times the global average, according to research platform globalpetrolprices.com.
Petrol retailing in Hong Kong is dominated by five players – ExxonMobil’s Esso, Chevron’s Caltex, Shell, Sinopec and PetroChina – which together operate 178 stations.
Experts have previously attributed Hong Kong’s high fuel prices to high land costs and the need for the city to import all its supply. Of the pump price, HK$6.06 per litre also goes to the government in the form of fuel tax.
The SCMP has contacted the Environment and Ecology Bureau, Chevron, ExxonMobil, Shell, Sinopec and PetroChina for comment.


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Hong Kong

Hong Kong Economy

City’s automobile association says fuel cost increases not warranted as petrol currently on sale is from stockpile before conflict erupted in Middle East


City’s automobile association says fuel cost increases not warranted as petrol currently on sale is from stockpile before conflict erupted in Middle East.


Hong Kong urged to review fuel prices amid ‘unfair’ cost increase accusations

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}City’s automobile association says fuel cost increases not warranted as petrol currently on sale is from stockpile before conflict erupted in Middle East

City’s automobile association says fuel cost increases not warranted as petrol currently on sale is from stockpile before conflict erupted in Middle East