Petrol Diesel Price: Having a personal vehicle is considered common in many countries but the situation is completely different in Hong Kong. Less than 13% people there have personal vehicles. This has made this developed country one of the regions in the world where vehicle ownership rates are lowest. One of the main reasons for this is the very high prices of petrol, diesel, tax and parking. Amidst the ongoing tension in the Middle East, let us know the price of petrol and diesel in Hong Kong.

Petrol and diesel prices

According to global fuel trackers and official oil price monitoring systems, fuel prices in Hong Kong have reached extremely high levels. The price of standard petrol is approximately HKD 32.64 per liter. In Indian currency it is approximately ₹ 348 per liter. Premium petrol is even more expensive. Its price is approximately HKD 34.44 per liter. In Indian currency it will be ₹ 367 per liter. With this, the price of diesel is approximately HKD 36.17 per liter. In Indian currency it will be ₹ 385 per liter.

Fuel is very cheap in China

Interestingly, fuel prices in neighboring mainland China are almost three times lower than those in Hong Kong. Because of this huge difference, many Hong Kong residents reportedly cross the border to China to get cheap fuel.

Public transport is quite strong

The biggest reason why fewer people own vehicles in Hong Kong is its efficient public transportation system. Services such as metro networks, buses, ferries and minibuses are cheap, fast and widely available. Most residents find public transportation much more practical than owning a private vehicle.

heavy tax on vehicles

The Hong Kong government deliberately controls the number of private vehicles by imposing high taxes. People buying a new car have to pay first registration tax. This can range from 46% to 132% of the value of the vehicle, depending on the model and price. Along with this, the annual license fee is also very expensive. The vehicle owner also has to pay an annual license fee depending on the size of the engine. This annual charge can be approximately between ₹ 50000 to ₹ 115000 in Indian currency. Along with this, the monthly parking rent for a normal vehicle can range from HKD 3000 to HKD 6000. This is equivalent to approximately ₹32000 to ₹64000 every month in Indian currency.

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