Motorists are urged to shop around for fuel despite cuts in oil prices since July.
Indeed there is no lack of choices as oil companies vie with a wide array of incentives for a larger slice of the market.
This is evident in a new Consumer Council initiative launched today (November 20) to promote greater oil price transparency and consumer awareness.
While the pump prices appear to be virtually identical, oil companies are habitually handing out a growing variety of incentives in the form of discount, rebate, bonus points, gifts, etc. in a bid to retain their clientele.
On the basis of the information gathered, it is observed that the incentives offered by individual oil companies in unleaded petrol could be worth as much as $2 to $3 per litre.
As some oil companies may offer more incentives, in conjunction with some credit card promotion, on certain days of the week such as Saturdays and Sundays, motorists filling up their tanks on those days could save up to an extra 60 cents per litre.
Motorists will, therefore, do well to pay heed and compare the promotional offers at the various filling stations to take advantage of the best offer.
To assist motorists cutting down on fuel costs, the Consumer Council is publishing a weekly report on the pump prices and incentives of unleaded petrols and diesel of all 5 oil companies operating in Hong Kong.
The information of the individual oil companies is tabulated in detail under the heading: retail price per litre, cash payment discount, bonus points discount, credit card discount, gifts and others.
It is uploaded on the Council's pricewatch website www.consumer.org.hk/pricewatch in both Chinese and English, and updated every Thursday for reference and comparison of motorists.