Macau Economic Services Bureau (DSE) Director Tai Kin Ip said yesterday that the introduction of a petrol and diesel price control mechanism had been proposed to the Land and Urban Construction Bureau (DSSCU) as a condition for approving new petrol stations.
Tai made the remarks during a plenary Q&A session in the legislature’s hemicycle yesterday.
Lawmakers yesterday urged the government to formulate effective measures to curb motor fuel prices, such as introducing a petrol and diesel price control mechanism or bringing the petroleum industry into the public sector, to prevent residents from being affected by rising fuel prices.
The National Development and Reform Commission (NDRC) announced yesterday that from today the price of petrol and diesel will increase by about 0.3 yuan per litre.
Secretary for Economy and Finance Lei Wai Nong said the key to controlling motor fuel prices was to introduce new operators to adapt to the local petrol market. He underlined that the government has been actively introducing new motor fuel suppliers in recent years, with five international motor fuel brands in the local market and the number of petrol stations in Macau having increased to 21, excluding the aviation fuel station at the local airport.
Lawmakers also expressed concern that with the implementation of the government’s e-consumption benefit plan, there might be a further increase in retail prices, adding pressure on people’s livelihoods.
Lei said that based on past experience, retail prices were bound to fluctuate as more money enters the market, adding that this was also influenced by a combination of factors such as the Ukraine war and the interest rate hike cycle.
Lei reassured the public that Macau’s stocks of major foodstuffs are sufficient, adding that the government had also asked the respective sectors to increase their stocks as much as possible, and to plan ahead to ensure a stable supply.
Lawmakers and government officials attend yesterday’s Legislative Assembly Q&A plenary session. Photo: Ginnie Liang
