Hong Kong authorities have been urged to review the pricing mechanism for local fuel supplies after petrol retailers were accused of swiftly raising prices as conflict erupted in the Middle East, even though the city had not yet exhausted its weeks-long stockpile.
Global fuel prices have soared since the US-Israel war with Iran broke out, disrupting traffic along the Strait of Hormuz – the key waterway that handles about 20 per cent of the world’s oil shipments.
The price of Brent crude, the…