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John Lee: Govt Closely Monitoring Fluctuations in Oil Prices; Competition Commission to Exercise Powers under Law if Price Fixing Found
The tense situation in the Middle East is affecting fuel prices and even supply, and the government is deeply concerned about this, Chief Executive John Lee said. The Hong Kong gov...
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John Lee: Govt Closely Monitoring Fluctuations in Oil Prices; Competition Commission to Exercise Powers under Law if Price Fixing Found
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The tense situation in the Middle East is affecting fuel prices and even supply, and the government is deeply concerned about this, Chief Executive John Lee said.

The Hong Kong government will ensure a stable energy supply, enhance transparency regarding oil price changes, and monitor price changes while carefully assessing their rationality.

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The Competition Commission under the Commerce and Economic Development Bureau will closely monitor market operations and, should any violations of fair competition or price fixing arise, will exercise its powers in accordance with the law.

The government has been in contact with various suppliers to ensure an adequate supply, and has required them to maintain sufficient inventory to prepare for various scenarios, Lee added.

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