Oil Price Cap Implementation - Full Coverage

Mar 12, 2026 Economy Society

Oil Price Cap Starts March 13: Gasoline at 1,724 Won

1An oil price cap policy starts on the 13th to limit fuel prices.

2Gasoline is capped at 1,724 won/L and diesel at 1,713 won/L.

3This emergency measure aims to ease fuel costs amid rising oil prices.

Mar 13, 2026 Economy Society

1Government cracks down on gas stations exceeding price caps.

2President urges citizens to report violators via social media.

3Measure aims to ease public burden amid rising oil prices.

Mar 16, 2026 Economy Society

1It's the third day of the government's oil price cap to curb price spikes [1.1].

2Gas and diesel prices at nationwide stations fell slightly on the first weekend.

3However, prices may rise again depending on the ongoing Middle East conflict.

Mar 23, 2026 Economy Society

1Due to rising global oil prices, domestic fuel costs will rise every two weeks.

2The government's price cap lowered prices, but prolonged use raises concerns.

3Experts advise using the cap briefly in emergencies alongside other measures.

Mar 29, 2026 Economy Society

1Gov't reinstated the oil price cap to prevent skyrocketing fuel costs.

2However, Seoul's gas price exceeded 1,900 won just three days into the policy.

3The cap's effect remains minimal as global oil prices continue to rise.