Oil Price Cap Continues for Ninth Month… Prices Maintained for Four More Weeks
5 Articles
5 Articles
The government has decided to freeze the maximum petroleum prices at current levels for four weeks, starting at midnight on the 14th. Based on refinery supply prices, the maximum prices are 1,784 won per liter for gasoline, 1,773 won for diesel, and 1,380 won for kerosene. This effectively means the same prices have been maintained for over five months since June 27. On the 13th, the Ministry of Trade, Industry and Energy stated, “Recent interna…
(Seoul = Yonhap News) Reporter Jang Bo-in = The government has decided to freeze the maximum oil price for another four weeks to stabilize people's livelihoods. Accordingly, the price cap system introduced last March...
The government has decided to freeze the "maximum oil price," which places a cap on supply prices for domestic refineries, for the next four weeks. Although the burden of price intervention policies is increasing due to the prolonged war between the U.S. and Israel versus Iran, the government plans to maintain the price cap system for the time being amidst continuing tensions in the Middle East. On the 13th, the Ministry of Trade, Industry and E…
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