Macau's “LPG and Gasoline Price Subsidy Program” reaches short-term relief goals and will end as scheduled on Saturday night

The Zhitong Finance App learned that on July 23, the Macao SAR Government issued a document stating that it decided to end the two-month “LPG and Gasoline Price Subsidy Program” as scheduled on July 25, that is, before midnight this Saturday, and urges the industry to adjust the retail price of fuel products reasonably as soon as possible in line with the trend of falling international oil prices to respond to social expectations and demands.

The Macao SAR Government issued a press release in the morning, stating that Macau's consumer price index fell 0.15% month-on-month. Among them, the transportation index fell 1.01% month-on-month and the housing and fuel index fell 0.16%, indicating that the overall level of inflation in Macau remained stable. It can be seen that the “Diesel Price Subsidy Program” and “LPG and Gasoline Price Subsidy Scheme” launched by the HKSAR Government in the form of a “combo punch” have generally reached the expected target of “timely short-term relief and stabilizing people's livelihood.”

The Macao SAR government said that according to recent trends in international oil prices, considering the principle of prudent application of public finance, the government will continue to closely monitor and collect changes in oil prices, conduct analysis and monitoring, and coordinate the industry to stabilize fuel prices and supply. It also calls on the public to mistakenly purchase oil and order petroleum gas before ending the plan to avoid congestion at gas stations or a significant increase in distribution pressure on the LPG industry.