Here's what led to skyrocketing petrol prices in Hong Kong
The industry, as it turned out, needs more players.
A report from South China Morning Post said Hong Kong’s anti-trust 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.
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