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Premium Unleaded Gasoline Price Hikes to $32+ per Liter; Ringo Lee Expects Oil Prices to Spike Again Mid-to-late This Wk
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Ringo Lee, Honorary Life President of the Hong Kong, China Automobile Association (HKAA), said on a radio program this morning (9th) that the price of premium unleaded gasoline had reached $32.39 per liter, while diesel price also rose above $30. He noted that Hong Kong's oill prices are already among the highest globally, and predicted that transportation costs in Hong Kong would face even greater pressure in the future. Oil companies are still selling oil purchased earlier at lower prices, but have recently been raising prices slightly each day, Lee added. He believed that oil companies' earlier inventories have been 'almost gone,' and expected that gasoline arriving from Singapore in the mid-to-late this week to be significantly more expensive, with both international oil prices and shipping costs immediately reflected in local oil prices. AAStocks Financial News Website: www.aastocks.com |
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