Oil Price Ceiling System imminent... the Key Question Is Whether Refineries or Gas Stations Will Be Targeted.

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The government will implement a maximum oil price system as early as this week. This marks the first time the government has directly intervened in market prices since the liberalization of oil prices in 1997. As this system has never been invoked since the enactment of the Petroleum Business Act in 1970, the Ministry of Trade, Industry and Energy is expediting the publication of a public notice, but the details of the implementation method rema…