Hong Kong’s antitrust regulator has called on the government to intervene in the petrol market after it discovered “highly unusual” practices which hindered market competition and contributed to the notoriously high fuel prices in the city.
The Competition Commission found consumers lacked choices as oil companies currently offer only the most expensive type of petrol for motorists, namely the 98 RON, even though a cheaper type called the 95 RON can also be used by 99 per cent of the city’s vehicles.
With the leases of 28 petrol station sites expiring next year, it suggested on Thursday that the government review the tendering system and make it mandatory to offer the 95 RON. Doing so would help rein in prices and facilitate the entry of new players, it said.
Full Content: The Standard
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
