Dynamic measures in pipeline for fuel price rises: CE

Chief Executive John Lee on Tuesday said the government will closely monitor fuel prices and adjust policies in a "dynamic manner". The remark comes after the government recently announced relief measures in response to surging fuel prices brought about by the turmoil in the Middle East. Before heading into this week's Executive Council meeting, Lee said the war is full of uncertainties, with its duration unknown. The SAR government has offered assistance to industries in need, he said. “We are under no illusions about changes in fuel prices. Although they have fallen from their peak, they are still higher than before the war. We must continue to monitor the situation,” Lee said. The CE said the government will make sure that temporary subsidies do not pose a risk to public finances. The government aims to launch a subsidy of HK$3 per litre of diesel by the end of the month and a 50 percent discount for tunnel tolls for commercial vehicles in May, Lee said. Edited by Thomas McAlinden