"Wholesale prices went down, so why did you raise them?"... Minister Kim Jeong-kwan makes surprise inspection of gas station

[The Financial News]
On the 19th, Kim Jeong-kwan, Minister of Trade, Industry and Energy of South Korea, made a surprise visit with the Government Joint Inspection Team to a refiner-operated gas station in Songpa District, Seoul, to conduct intensive checks for any illegal activities related to pricing, distribution, or fuel quality.
The gas station that the minister inspected without prior notice is directly operated by a refiner and is one of roughly 200 stations that raised gasoline and diesel prices compared with March 12. In particular, this station purchased gasoline on the 13th at a lower wholesale price than before, yet still raised its retail gasoline price the very next day, on the 14th.
The inspection team first checked why the station had increased its pump prices despite the government’s maximum price scheme being in effect, and reviewed the background to that decision. They also carried out fuel quality tests and examined whether the station was selling short of the stated quantity. In addition, to check for possible tax evasion, the team secured the station’s purchase and sales records, and used CCTV footage to investigate any fraudulent claims for fuel subsidies.
As a result of today’s inspection, it was confirmed that the gas station had omitted 28,000 liters of gasoline in October 2025 and filed a false report. The Korea Petroleum Quality & Distribution Authority notified the Songpa-gu Office, Seoul Metropolitan Government, which has jurisdiction over the station, of this finding. Authorities plan to conduct a detailed analysis of the materials obtained today to determine whether there was tax evasion or non-compliance with quality standards, and will impose sanctions under the relevant laws if any violations are identified.
Kim Jeong-kwan stated, "Since refiners’ wholesale prices have been cut since last week, it is only natural that gas station prices should also come down quickly," adding, "The Government Joint Inspection Team will continue on-site inspections of gas stations suspected of illegal practices until our consumers can clearly feel that fuel prices have stabilized at the pump."

aber@fnnews.com Reporter Park Ji-young Reporter