Gasoline and Diesel Price Ceilings Frozen Again as Government Keeps Fifth Oil Cap

The government has again frozen the maximum prices for fuels including gasoline and diesel to reduce pressure on living costs amid high inflation. The Ministry of Trade, Industry and Energy decided not to raise the fifth oil price ceiling, presenting the move as part of its price-stability response for households. According to the source, even as international oil prices declined, the government chose to postpone increases in gasoline and diesel prices. The decision reflects concern that energy price changes could add to consumer prices and household spending. Any future adjustment is expected to depend on further announcements. Source: mk.co.kr