A screenshot from South Korean President Lee Jae-myung’s social media post showing gasoline prices at gas stations in the Siheung area. Graphic by Asia Today
March 13 (Asia Today) — South Korean President Lee Jae-myung on Thursday urged citizens to report gas stations that violate the government’s newly introduced fuel price cap, saying public monitoring is necessary to prevent price gouging.
Lee posted a message on the social media platform X on the first day of the petroleum price cap system, asking citizens to report any gas stations charging excessive prices.
“Fuel prices are stabilizing, right? If you see price gouging, please report it,” Lee wrote.
The president also shared a map showing gasoline prices at gas stations in the Siheung area of Gyeonggi Province. The prices ranged from the 1,700 won to 1,900 won range per liter.
The government began enforcing the price cap at midnight Thursday.
Under the measure, refiners’ supply price for regular gasoline is capped at 1,724 won per liter, or about $1.29. The cap for automotive diesel is 1,713 won, about $1.28, and for kerosene 1,320 won, about $0.99.
Lee’s public posting of gas station prices was widely interpreted as a signal that the presidential office is closely monitoring fuel prices.
About 90 minutes before sharing the map, Lee posted another message warning companies against violating the policy.
“Starting today we are fully implementing the petroleum price cap system,” he wrote.
“To stabilize domestic fuel prices amid volatile international conditions, we have set clear upper limits on supply prices.”
Lee also called for citizen participation in monitoring the market.
“If you discover any gas station violating the price cap, please report it immediately,” he wrote. “Public vigilance is necessary to prevent businesses from taking advantage of the situation to earn excessive profits.”
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260313010003999