Hong Kong’s antitrust regulator has said that its recent revelation of “highly unusual” practices in the petrol market could force oil companies to explain their business policies.
The comment by the Competition Commission came after it was questioned for being unable to confirm if there was any collusion in the market.
Commission chairwoman Anna Wu Hung-yuk also renewed her call for the government to give it more power to obtain information from business conglomerates.
On Thursday, the watchdog issued a study report, which revealed that drivers lacked choices as oil companies offered only the most expensive type of petrol – called 98 RON – to motorists even though a cheaper type, 95 RON, could also be used by almost all of the city’s vehicles.
The report found that such problems resulted in Hong Kong having the “highest petrol prices in the world”.
Full Content: South China Morning Post
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