Government freezes maximum oil prices... Gasoline kept at 1,784 won and diesel at 1,773 won
Government freezes fuel prices, keeps maximum gasoline and diesel prices for 4 weeks Measure to ease household burden amid uncertainty in the Middle East, check the applied prices
The government has decided to keep the domestic maximum oil prices at their current levels despite the upward trend in international oil prices. The Ministry of Trade, Industry and Energy said on the 24th that it would freeze the 8th maximum oil prices at the same levels as before.
Accordingly, for the next four weeks starting at 12:00 a.m. on the 25th, regular gasoline will be applied at 1,784 won per liter, diesel at 1,773 won, and kerosene at 1,380 won. The government explained that it made this decision while considering both inflation and the burden on ordinary citizens amid growing uncertainty in the Middle East.
The ministry said that although international oil prices continue to fluctuate, it focused on reducing the burden on people's livelihoods, taking into account consumer prices and interest rate levels. However, it added that if the situation in the Middle East changes rapidly, it may review the maximum price adjustment again.