Money
Korea Freezes Domestic Fuel Price Caps for Another Month
· Reviewed by the editor
The Ministry of Trade, Industry and Energy announced that wholesale fuel price caps will remain frozen for the fourth consecutive cycle despite climbing international crude oil prices. Upper supply limits for gas stations remain capped at 1,784 won (~$1.27) per liter for gasoline and 1,773 won (~$1.27) per liter for diesel for the next four weeks. The decision seeks to buffer household spending against imported energy inflation.
So what
Expect relatively steady pump prices if you are renting a car or taking road trips across Korea over the coming month.