Third fuel price cap system enters third day... Seoul gasoline prices remain in the 2,020-won range

[The Financial News] On the third day of the government’s third fuel price cap system on the 12th, average fuel prices at gas stations nationwide continued their upward trend.
According to the oil price information system Opinet, as of 9 a.m. that day the average nationwide gasoline price at gas stations was 1,992.3 won per liter, up 1.6 won from the previous day. Over the same period, the average diesel price rose 1.6 won to 1,985.8 won per liter.
Price increases in Seoul were relatively modest.
The average gasoline price in Seoul was 2,024.4 won per liter, up 0.4 won from the previous day, while the average diesel price in the city edged up 0.2 won to 2,009.8 won.
Compared with the same time the previous day, when nationwide gasoline and diesel prices climbed 1.8 won and 1.5 won, respectively, and Seoul gasoline and diesel rose 1.3 won and 1 won, the pace of increase has slowed.
The fuel price cap system, which sets an upper limit on the prices refiners can charge gas stations, was first introduced on the 13th of last month, followed by a second round on the 27th and the start of the third round on the 10th of this month.
Under the third round, the cap is set at 1,934 won per liter for gasoline, 1,923 won for diesel, and 1,530 won for kerosene, unchanged from the second round. The government said it made this decision in light of recent volatility in global oil prices and the impact on the cost of living.
solidkjy@fnnews.com Reporter Koo Ja-yoon Reporter