The price of Brent crude oil has surged to over US$116 a barrel, marking its highest level since April, following attacks on tankers that disrupted Gulf supplies. This spike has intensified financial pressures on Hong Kong’s commercial drivers, who are already grappling with soaring fuel costs.
A recent survey of van and truck drivers, conducted from October 15, revealed that 98.7% of respondents reported higher monthly fuel expenses after the subsidy ended in June. More than a quarter of drivers now spend at least HK$5,000 extra each month on fuel, forcing many to work longer hours, dip into savings, or cut back on vehicle maintenance to stay operational.
The survey, which received responses from over 770 drivers, follows an earlier report in April that highlighted fuel costs consuming over 30% of income for more than 53% of drivers. By May, this figure had risen to 69%, underscoring the growing financial strain on the city’s commercial drivers.
As fuel prices continue to climb, the appeal of electric vehicles (EVs) among these drivers is growing. The high cost of traditional fuel is making EVs a more attractive alternative, potentially accelerating the shift toward cleaner transportation in Hong Kong.