What are South Korea's current fuel price caps for gasoline, diesel and kerosene?

The maximum prices are 1,784 won per liter for regular gasoline, 1,773 won for diesel and 1,380 won for kerosene. They will remain in place for the next four weeks beginning Saturday.

Why did the Korean government extend the fuel price caps again?

The ministry said the extension was driven by elevated oil prices and prolonged tensions in the Middle East. A ministry official said Brent crude rose to $90 on Aug. 20 after falling to around $70 in early August.

When did South Korea first introduce fuel price caps and what was their purpose?

The government introduced the emergency measures in mid-March to stabilize domestic fuel prices. It said the move was meant to ease supply chain disruptions tied to the war between the United States and Iran in the Middle East.

Gov't freezes fuel price caps amid Mideast tensions

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Summary

The Korean government on Friday kept its fuel price caps unchanged for a second consecutive period amid elevated oil prices and prolonged Middle East tensions, the industry ministry said. Maximum prices for regular gasoline, diesel and kerosene will stay at 1,784 won, 1,773 won and 1,380 won per liter for the next four weeks beginning Saturday. The government has maintained the current ceilings for eight weeks since June 27. A ministry official said Brent rose to $90 on Aug. 20 amid the stalemate in the Middle East.

Key Facts

The Ministry of Trade, Industry and Energy said the current price ceilings were lowered to their present levels on June 26 and have been kept unchanged since June 27.
The cap covers fuel supplied by local refiners to gas stations for the next four weeks beginning Saturday.
The government introduced fuel price caps in mid-March to stabilize domestic fuel prices amid supply chain disruptions stemming from the war between the United States and Iran in the Middle East.

By Yonhap

Published Aug 21, 2026 8:58 pm KST

A customer fuels a vehicle at a gas station in Seoul, Friday, ahead of the ninth announcement of maximum petroleum prices. Yonhap

The Korean government on Friday kept its price ceilings for fuel products unchanged for the second consecutive period amid elevated oil prices and prolonged tensions in the Middle East, the industry ministry said.

Maximum prices for regular gasoline, diesel and kerosene supplied by local refiners to gas stations will remain unchanged at 1,784 won ($1.30), 1,773 won and 1,380 won per liter, respectively, for the next four weeks beginning Saturday, according to the Ministry of Trade, Industry and Energy.

The government has maintained the current price ceilings for the past eight weeks, since June 27, after lowering the cap to their current levels on June 26.

"International oil prices fell to around $70 per barrel in early August, but Brent crude rose to $90 on Aug. 20 amid a prolonged stalemate in the Middle East, leading to the latest extension of the price caps," a ministry official told Yonhap News Agency.

The government introduced fuel price caps in mid-March to stabilize domestic fuel prices amid supply chain disruptions stemming from the war between the United States and Iran in the Middle East.

It plans to adjust the emergency measures flexibly while closely monitoring developments in the Middle East and the South Korean economy, the ministry said.

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