Great concern: Financial Secretary Henry Tang says the Government understands the impact of the international oil price surge on the transport sector.

The Government understands the impact of the international oil price surge on the transport sector, Financial Secretary Henry Tang says, adding that it welcomes views from the industry on fuel tax.

Speaking after the opening ceremony of the Hong Kong Jockey Club National Day Celebration Carnival in Sha Tin today, Mr Tang said the surge will affect the global economy, including the Mainland's and Hong Kong's.

When asked whether the Government will reduce fuel tax, Mr Tang said fuel duty is one of the key revenue sources and the Government needs to consider Hong Kong's overall economic situation before making any decisions.