Policy Address

Fuel Prices

62.     In response to public concerns that fuel prices are “quick going up, slow coming down”, we have asked the oil companies to promptly adjust prices in tandem with international oil price movements, and be more transparent in price setting so the public can monitor their retail prices.  We are now discussing specific measures with the oil companies.  If it is found that fuel prices are indeed “quick going up, slow coming down”, the Government will consider further measures to protect the public interest which may include tightening the monitoring of fuel prices through the petrol station tendering process.  We hope the community will actively discuss the fuel price issue.  This will enable us to strike a balance between maintaining a level playing field for business and protecting consumer interests. 

 

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