Retail fuel prices drop after implementation of price cap system: ministry

Retail fuel prices drop after implementation of price cap system: ministry

Fuel prices at gas stations have dropped significantly since the government introduced a temporary price cap system last week, the industry ministry said Monday, vowing continued efforts to ease energy supply woes due to the Middle East crisis. The average gasoline price at gas stations nationwide came to 1,840.1 won ($1.23) per liter as of Sunday, down 58.7 won from Thursday, a day before the price ceiling system took effect, according to data compiled by the Ministry of Trade, Industry and Res

By The Korea Herald