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Hong Kong Consumer Council says local oil prices rise quickly but drop slowly, urges pricing transparency

( February 5, 2015, 10:17 GMT | Official Statement) -- MLex Summary: Hong Kong's Consumer Council said Thursday it found signs that adjustments by oil companies in domestic auto fuel prices were quick to go up but slow to go down, citing publicly available data on international crude oil and auto fuel prices from 2013 to 2014. The council suggested the government release on a regular basis more detailed information, including import prices of crude oil and other cost components to better protect consumer interests, it said in a statement. The council also launched on Thursday the so-called "diesel price calculator" to provide the public daily updates on the prices and discounts on diesel fuel offered by different oil companies, including Esso, Caltex, Shell, Petrochina and Sinopec.The statements are attached....

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