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Hong Kong Eases Transport Costs with Diesel Subsidy, Toll Discounts
9 Apr
Summary
- Hong Kong offers HK$3 per litre diesel subsidy for commercial vehicles.
- Commercial traffic gets a 50% toll discount on government tunnels.
- Measures aim to support industries facing rising fuel costs and supply concerns.
Hong Kong has introduced measures to alleviate the burden of rising fuel costs on its transport sector. Effective immediately, a subsidy of HK$3 per litre will be provided for diesel consumed by commercial vehicles and vessels.
Additionally, commercial traffic will benefit from a 50% discount on tolls for government-managed tunnels for a period of two months. These initiatives aim to support industries heavily reliant on diesel and facing challenges from global energy market fluctuations.
The government estimates the combined cost of these measures to be approximately HK$1.8 billion. Private cars and motorcycles are excluded from the tunnel toll reduction, which is projected to result in HK$160 million in lost revenue.
With Hong Kong importing nearly all its energy, a public transport task force is also being established to expedite operator requests for flexibility in managing increased fuel expenses. This comes as concerns grow over stable energy supplies, with 80% of petroleum products imported from mainland China.
