The Korea Times
The government froze the price ceilings on fuel products for the fourth consecutive time Thursday, amid lessening volatility in global crude prices and a relatively stable supply of oil entering the country. Maximum prices for regular gasoline, diesel and kerosene supplied to gas stations by local oil refineries will remain unchanged at 1,934 won ($1.3), 1,923 won and 1,530 won per liter, respectively, for the next two weeks, according to the Ministry of Trade, Industry and Resources. It marks the fourth consecutive time the government maintained fuel price caps at the current level. Despite some upward pressure on fuel prices, the ministry said it has made the decision as global oil prices, while fluctuating around a relatively high range of $100 per barrel, have not changed much over the past two weeks due to an impasse in peace negotiations between the United States and Iran. It also considered rising inflationary pressure due to higher energy prices, which increase the financial burden on people's livelihoods. In April, Korea's consumer prices rose 2.6 percent from a year earlier, the
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