South Korea fuel price cap

[2026-03-31]South Korea Conducts Joint Inspection on Fuel Price Hikes After Price Cap Policy

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The Ministry of Trade, Industry and Energy conducted a joint inspection of gas stations following rapid fuel price increases.
This action targets stations that raised prices sharply after the second fuel price cap was implemented.
The inspection took place on June 30, 2024, and aims to ensure compliance and protect consumers.

[2026-03-28]South Korea Enforces Zero Tolerance on Unjust Fuel Price Hikes at Gas Stations

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The South Korean government has adopted a zero-tolerance policy toward gas stations that unjustly raise prices following the second petroleum price cap.
Approximately 35% of gas stations increased prices immediately after the new cap, prompting strict monitoring and enforcement.
As of March 27, 2024, authorities are closely tracking price changes and plan severe actions against violators.