Govt will work to ensure fuel supply

March 17, 2026

Chief Executive John Lee:

In regard to (the) supply of oil, because of the disruption in supply, oil prices have gone up. We will, of course, take action to try to mitigate the risks. What the Government is working on is first of all ensuring that there will be a stable energy supply. We also want to ensure that transparency of information relating to supply and energy prices will be enhanced. And the Government will continue to monitor price fluctuations, as well as the reasonableness and need of price adjustments. We will also remind service providers of their social responsibility. 

One thing we do to ensure stable supply is making suppliers ensure that they will have contingency plans. First of all, they should work on ensuring alternative supplies if it is possible. The second thing is ensuring that they have enough stockpiles. For electricity production, it is also very important to prepare, to adjust the fuel mix, so that the proportion of natural gas, coal and nuclear power can be adjusted readily in view of the changing situation. 

Government departments and authorities under the Government are already in position. For example, under the CEDB (Commerce & Economic Development Bureau), we have the Competition Commission and the Consumer Council in position ready to deal with the changing situation. The Competition Commission will monitor the market situation; where there is any possible indication of malpractice such as unfair competition or manipulation of prices, then they will exercise their power to demand information or even ask responsible people to come to (an) enquiry. The Consumer Council has also made an appeal to suppliers so that they will bear in mind people’s affordability, and also social responsibility.

The Government has also been in touch with local airlines and also will be meeting fuel suppliers, petrol fuel suppliers, so as to ensure that they will know their social responsibility and also provide more updated and early information about supply, about prices.

(To watch the full media session with sign language interpretation, click here.)

Chief Executive John Lee today said the Government will work to ensure a stable energy supply and enhanced pricing transparency, as it endeavours to mitigate risks arising from oil supply disruption brought about by the current Middle East conflict.

Responding to media enquiries ahead of the Executive Council meeting this morning, Mr Lee said: “In regard to (the) supply of oil, because of the disruption in supply, oil prices have gone up. We will, of course, take action to try to mitigate the risks.

“What the Government is working on is first of all ensuring that there will be a stable energy supply. We also want to ensure that transparency of information relating to supply and energy prices will be enhanced.

“And the Government will continue to monitor price fluctuations, as well as the reasonableness and need of price adjustments. We will also remind service providers of their social responsibility.”

Mr Lee highlighted that, to ensure a stable energy supply, the Government has asked suppliers to ensure that they have contingency plans.

“First of all, they should work on ensuring alternative supplies if it is possible. The second thing is ensuring that they have enough stockpiles.

“For electricity production, it is also very important to prepare, to adjust the fuel mix, so that the proportion of natural gas, coal and nuclear power can be adjusted readily in view of the changing situation.”

The Chief Executive added that various authorities are well prepared to deal with changes in the energy market.

“For example, under the CEDB (Commerce & Economic Development Bureau), we have the Competition Commission and the Consumer Council in position ready to deal with the changing situation.

“The Competition Commission will monitor the market situation; where there is any possible indication of malpractice such as unfair competition or manipulation of prices, then they will exercise their power to demand information or even ask responsible people to come to (an) enquiry.

“The Consumer Council has also made an appeal to suppliers so that they will bear in mind people’s affordability, and also social responsibility.”

Mr Lee added: “The Government has also been in touch with local airlines and also will be meeting fuel suppliers, petrol fuel suppliers, so as to ensure that they will know their social responsibility and also provide more updated and early information about supply, about prices.”