International oil prices may have declined to multi-year lows, but Hongkongers continue to pay elevated prices for petrol. In fact, Hong Kong has the dubious distinction of having the highest pump prices in the world.Industry observers say this is mainly due to surging land costs for building fuel stations, which have increased by more than 400 per cent in the past decade, thanks to Chinese oil companies’ rampant expansion.Even as crude prices remain depressed amid an all-out price war between…
Source : South China Morning Post
Read more…Why do Hongkongers pay sky-high prices for petrol when international oil remains at multi-year lows?















