Yonhap News4/22/2026BusinessSouth Korea
S. Korea Fuel Price Cap Cut Consumer Prices by 0.8% in March
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- South Korea's fuel price cap system, introduced March 13, helped lower consumer prices by up to 0.8 percentage point in March, according to the Korea Development Institute.
- Without the caps, gasoline would have been 460 won higher per liter, diesel 916 won higher, and kerosene 552 won higher.
- Expanded fuel tax cuts taking effect in April are expected to reduce consumer prices by around 0.2 percentage point this month.
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South Korea's fuel price cap system, introduced March 13, helped lower consumer prices by up to 0.8 percentage point in March, according to the Korea Development Institute. Without the caps, gasoline would have been 460 won higher per liter, diesel 916 won higher, and kerosene 552 won higher. Expanded fuel tax cuts taking effect in April are expected to reduce consumer prices by around 0.2 percentage point this month.
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This article was originally published by Yonhap News.
