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 petrol and 15 days’ worth of aviation fuel, according to the Census and Statistics Department.
