Hong Kong moves to secure fuel supply amid oil disruption

Authorities step up pricing oversight and contingency plans.

The Hong Kong Government said it is working to ensure a stable fuel and energy supply as it responds to oil supply disruption caused by the Middle East conflict.

Chief Executive John Lee said rising oil prices had prompted the government to focus on securing a stable supply and improving transparency around fuel availability and energy pricing.

He said authorities would monitor price fluctuations and assess the reasonableness and need for any price adjustments, whilst reminding service providers of their social responsibility.

The government has asked suppliers to prepare contingency plans, including securing alternative supplies where possible and maintaining sufficient stockpiles.

Hong Kong is also preparing to adjust its power-generation fuel mix, including natural gas, coal, and nuclear power, depending on how the situation develops.

Lee said the Competition Commission would watch for unfair competition or price manipulation, whilst the Consumer Council had urged suppliers to consider affordability.

He added that the government had also been in touch with local airlines and would meet fuel suppliers to push for earlier and more up-to-date information on supply and prices.