Hong Kong will introduce a two-month subsidy for liquefied petroleum gas (LPG) used by taxis, minibuses and school buses from May, amid soaring fuel prices, while a previously announced diesel subsidy will take effect on Thursday. Financial Secretary Paul Chan Mo-po said on Wednesday that the interdepartmental task force monitoring fuel price movements had proposed a 50 HK cents per litre subsidy for two months, starting in May, to alleviate operational pressure on taxis and minibuses, among...
The two main ferry operators running daily services between Hong Kong and Macau will raise fares by up to 11 per cent amid surging fuel prices, while a union said bus drivers were reporting lost income as companies cut services. Chief Executive John Lee Ka-chiu said on Tuesday that the government would continue to monitor oil prices as it pressed ahead with measures set out earlier by the interdepartmental task force on fuel supply. A day earlier, TurboJet and Cotai Water Jet said they would...
Heavily dependent on imported oil, Australia looks for quick fixes from regional diplomacy to free train rides.
Surging fuel prices and economic turmoil compound the impact of Sudan’s ongoing electricity crisis.
With fuel prices in the Philippines among the world’s hardest hit by the Iran war, consumer groups are urging the government to take bolder action, including tighter control over pump prices. Economists say the more realistic options are tax relief, targeted subsidies and transport support rather than direct price controls. Sharon Garin, secretary of the Philippines’ Department of Energy, said on a radio programme on Sunday that the country might no longer see diesel at 60 pesos (US$1) per litre...
The Hong Kong government must ensure its massive HK$1.8 billion (US$229.8 million) subsidy for diesel to mitigate record-high oil prices for the transport sector is not exploited by fuel companies through discount manipulations, an industry leader and a lawmaker have cautioned. Their warnings came shortly after authorities announced a two-month, HK$3-per-litre (38 US cents) diesel relief measure on Thursday to cushion the impact on transport companies amid the ongoing Middle East conflict, with...
The recent surge in fuel prices, triggered by West Asia conflict, has increased operating costs for conventional fuel-based vehicles. This has, in turn, revived attention towards electric vehicles (EVs), including electric cars, autos, two-wheelers and plug-in hybrids.
Pakistanis faced record fuel price increases on Friday, as petrol and diesel prices rose by up to 54 per cent driven by the war in the Middle East that has caused global oil prices to surge. The increase adds pressure to a cash-strapped nation already grappling with high inflation, as economists warned the hike would push up food prices and living costs. Pakistan’s Petroleum Minister Pervez Malik said late on Thursday that the increase was “unavoidable”. He said the government was forced to...