# Oil Price Gap Nearly 3 Times: Hong Kong Car Owners Flock to Shenzhen for Fuel as Cost Pressure Surges

Due to recent fluctuations in the international energy market, global refined oil prices continue to rise, leading to higher driving costs for fuel vehicle owners. Mainland China previously adjusted its refined oil prices, with an increase of about 0.5 yuan per liter, causing many drivers to complain about the cost when refueling. However, compared to the mainland, fuel prices in Hong Kong have increased more significantly in both percentage and absolute terms, creating a gap of nearly three times.

Recently, reporters noticed that some Hong Kong media outlets posted on social media that, as local refined oil prices surged rapidly, more and more car owners qualified for “Hong Kong cars heading north” are choosing to refuel in Shenzhen to reduce their daily driving expenses. This phenomenon is especially noticeable on weekends and holidays, with queues often seen at gas stations near some Shenzhen border crossings with Hong Kong, where vehicles with Hong Kong license plates line up to refuel.

High fuel prices have long been a reality faced by Hong Kong car owners. This is closely related to the structure of Hong Kong’s refined oil market. Unlike the common 92, 95, and 98 octane gasoline in the mainland, Hong Kong offers fewer options, mainly regular unleaded and premium unleaded gasoline. These two types of gasoline have octane ratings roughly comparable to 98 octane gasoline in the mainland, with differences mainly in additive formulations.

Additionally, Hong Kong’s refined oil heavily relies on transportation from mainland China and imports from overseas. Coupled with high taxes and additional costs, local fuel prices have remained high globally. Even when international oil prices are relatively stable, Hong Kong drivers’ refueling costs are still significantly higher than those in the mainland.

Against the backdrop of recent continuous increases in international oil prices, this gap has widened further. Currently, the retail price of premium unleaded gasoline in Hong Kong has approached HKD 33 per liter, roughly RMB 29 per liter. In comparison, the same grade of Sinopec’s “Aipao” 98 octane gasoline in Shenzhen costs about RMB 10.29 per liter, nearly three times cheaper. For private cars with a tank capacity of 50 to 70 liters, filling up completely can save hundreds of yuan per trip.

Under this price comparison, many Hong Kong car owners choose to refuel in mainland China when they travel north, making it a practical and direct way to save costs. For them, cross-border travel is already part of their routine, and refueling in Shenzhen can significantly reduce long-term vehicle expenses.

In fact, fuel prices are just one aspect of why overall vehicle costs for Hong Kong drivers tend to be higher. Due to dense urban populations and limited road resources, expenses such as parking fees, maintenance, repairs, and insurance are also noticeably higher in Hong Kong than in the mainland. As a result, since the implementation of the “Hong Kong cars heading north” policy, Hong Kong vehicles have become increasingly common not only at gas stations but also in repair shops, car washes, and other automotive aftermarket scenes across Guangdong.

Overall, the original goal of “Hong Kong cars heading north” was to facilitate cross-border travel and promote regional exchanges. Today, in practice, it has unexpectedly boosted activity in the Greater Bay Area’s automotive aftermarket. On one hand, Hong Kong drivers gain more flexible and cost-effective vehicle use options; on the other hand, related service industries in the mainland benefit as well, creating new consumption growth.

As fuel prices remain high, it is expected that the phenomenon of Hong Kong drivers “heading north to refuel” will continue for some time. This is not only a rational choice based on individual cost considerations but also a reflection of the structural differences in energy prices and living costs between regions.