CE John Lee on oil prices: any intervention must not create risks to public finances
發佈日期: 2026-04-21 20:09
TVB News
As Hong Kong's fuel prices remain persistently high, an academic is calling on more measures to rein in the price hikes.
This as Chief Executive John Lee says any government intervention on fuel pricing must be carefully managed to avoid straining public finances.
While the Middle East conflict continues to roil global energy prices, Hong Kong pump prices show no sign of retreating.
Chief Executive John Lee says while there are no illusions about a swift turnaround in fuel prices, oil prices have eased from their recent peak.
Still, he says the prices remain well above pre-conflict levels and the situation warrants continued monitoring.
The government has earmarked 1.8 billion dollars to fund the diesel subsidies for designated commercial vehicles -- three dollars per litre over two months, starting late this month at the soonest.
When asked if the government will consider longer-term measures to regulate oil prices, the city leader said if there are measures, the measures should be temporary and time-limited to ensure it won't create public finance risks.
On the mainland, however, more relief is on the way. Mainland authorities announced fuel price cuts will take effect at midnight Wednesday -- the first time this year.
Joseph Chan from the University of Hong Kong's Business School says the government should consider introducing a cap on oil company profits and easing the high fuel taxes.
Associate Director, Centre for Innovation and Entrepreneurship, HKU Business School Prof. JOSEPH CHAN: "In the past because Hong Kong is a closed loop. And then we try to protect the environment and try to limit the traffic jam. But now, because we are so connected to the Chinese mainland. So that's why when we look at a lot of the commercial use of the vehicle, they will actually do the refueling actually in the mainland, and then they come to Hong Kong. They have been doing it a lot already. So that is why this original reason of why we need to keep the high-tax, it's not there anymore, so then it is actually a good timing to actually review."
As the high tax rate can carry broader economic consequences, he calls on the government to commission a study to forge a solution that balances the interest of oil companies, consumers and also the public purse.
