Friday, March 13, 2026

Oil price ceiling takes effect today...Lee says, "Report any gas stations that violate it to me"

Input
2026-03-13 10:05:14
Updated
2026-03-13 10:05:14
President Lee Jae-myung speaks during a senior presidential aides meeting at Cheong Wa Dae, also known as the Blue House, on the 12th.

[Financial News] President Lee Jae-myung said on the 13th via social networking service (SNS) that the oil price ceiling takes effect today, adding, "If you find any gas stations or other businesses that violate the system, please report them to me without delay."
Lee wrote on X (formerly Twitter) that "starting today, the oil price ceiling will be fully implemented," explaining, "To stabilize domestic fuel prices, which have been fluctuating due to global geopolitical instability, we have decided to set a clear upper limit on supply prices."
He continued, "We need the public’s oversight and participation to ensure that no companies exploit the confusion to reap excessive profits or gain unfair advantages."
Along with his message, Lee shared a news article reporting that fuel prices across the country have fallen since the price ceiling was introduced. According to Opinet, the oil price information system run by Korea National Oil Corporation (KNOC), as of 2 a.m. that day the average gasoline price at gas stations nationwide was 1,893.3 won per liter, down 5.5 won from the previous day. Over the same period, the average diesel price was 1,911.1 won per liter, a decrease of 7.9 won.
west@fnnews.com Reporter Sung Seok-woo Reporter