Surging oil prices are driving up costs for Hong Kong’s laundry sector, with the tripling of fuel prices forcing some operators to turn down new orders and freeze hiring.
An industry representative said on Monday the price of industrial diesel, commonly known as “red diesel”, surged from about HK$6 (80 US cents) per litre in late February to as high as HK$17.50 in early April, an increase of more than 190 per cent.
The sharp rise has significantly raised operating costs for laundry businesses,…