South Korea Keeps Fuel Price Caps Amid Mideast Tensions

The South Korean government has decided to maintain its fuel price caps at current levels for another four weeks. This decision comes as international oil prices have fluctuated due to ongoing tensions in the Middle East.

The maximum prices for regular gasoline, diesel, and kerosene supplied by local refiners will remain unchanged at 1,784 won ($1.30), 1,773 won, and 1,380 won per liter, respectively.

This decision marks the second consecutive period that the government has kept fuel price ceilings in place amid rising oil prices. The current caps were introduced in mid-March to stabilize domestic fuel prices amid supply chain disruptions stemming from the war between the United States and Iran.