The Environment and Ecology Bureau (EEB) will begin publishing weekly updates on local fuel prices every Wednesday from April 1, in a move aimed at enhancing price transparency amid uncertainties in the Middle East.
The bureau said it will release the seven-day moving average retail prices of unleaded petrol and diesel, after walk-in discounts, based on data from local oil companies. It will also publish trends in international benchmark prices of refined oil products over the same period.
Authorities noted that around 80 percent of Hong Kong’s oil products are sourced from the Chinese mainland, helping maintain a stable energy supply.
The bureau explained that crude oil and refined oil products are different commodities, and fluctuations in global crude oil prices, such as London Brent crude, may not directly translate into changes in local retail fuel prices.
The weekly charts will compare international benchmark prices of refined oil products with local retail prices for auto fuel, allowing the public to better track pricing trends.
While oil companies set pump prices, the bureau noted that actual transaction prices are often lower due to various discounts. As such, pump prices do not necessarily reflect the true retail prices paid by consumers.
In addition to pump prices, the charts will include retail prices after walk-in discounts offered by individual oil companies, enabling the public to compare average prices and identify more competitive options.
However, the bureau added that the charts do not account for additional discounts available only to specific customers, such as those tied to credit cards or membership programs.
