Hong Kong Chief Executive John Lee issued a warning on Tuesday, stating that the conflict in the Middle East will likely cause shocks and fluctuations in the supply of oil to the economical island.
He indicated that discussions are underway with oil companies and airlines to maintain fuel supply stability.
According to Reuters, John Lee affirmed that the government is in contact with fuel suppliers to ensure a stable supply.
During his weekly press conference, Lee expressed considerable concern regarding the impact of the Middle East conflict on energy prices and supply, adding, "We will see shocks and volatilities."
The Chief Executive further stated that the government has reminded fuel suppliers of their responsibility to maintain market stability.
The potential disruption to fuel supplies in Hong Kong mirrors concerns expressed globally about the impact of the US-Israeli-imposed war against Iran on energy markets.
Analysts predict that escalating tensions in the region could lead to higher oil prices and potential supply shortages, affecting economies worldwide.