Surging oil prices push Hong Kong’s laundry sector to freeze hiring, halt orders

Surging oil prices are driving up costs for Hong Kong’s laundry sector, with the tripling of fuel costs forcing some operators to turn down new orders and freeze hiring. An industry representative said on Monday that the price of industrial diesel, commonly known as “red diesel”, had surged from about HK$6 (80 US cents) per litre in late February to as high as HK$17.50 in early April – an increase of more than 190 per cent in just over a month. The sharp rise has significantly raised operating...