Oil Price Trends | Sit Tsui-wun: Hong Kong's Fuel Supply Remains Stable, Weekly Updates to be Published Next Month

SighingCashier · 2026-03-21T02:00:55+00:00

The blockade of the Strait of Hormuz has impacted fuel supply to Asia, driving up fuel prices. Hong Kong's Secretary for Environment, Tse Ting-wai, stated that Hong Kong's fuel supply remains stable, primarily sourced from mainland China, and expressed confidence that future supply will continue to be stable. He mentioned that Hong Kong will publish weekly actual fuel price comparisons to allow citizens to monitor price fluctuations.

SighingCashier

2026-03-21 02:00:55

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The Strait of Hormuz disruption affects fuel supplies to Asia, driving up fuel prices. Environment and Ecology Bureau Secretary Cheung Kin-chung stated on a radio program that Hong Kong has a unique advantage, as most of its fuel is supplied from mainland China, and currently, Hong Kong’s fuel supply is stable.

Cheung Kin-chung pointed out that a few years ago, the Russia-Ukraine war caused an energy crisis, but Hong Kong’s supply remained stable. Although Hong Kong does not store fuel in strategic reserves, he believes that fuel supply will remain stable in the future.

He also said that current market oil price fluctuations mainly involve crude oil, but the fuel purchased in Hong Kong is refined oil. When importing fuel into Hong Kong, various discounts are applied. The government will start releasing actual retail prices for comparison from next month and will publish updates weekly, allowing citizens to better monitor whether prices are truly accelerating or slowing down.

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