South Korea's Diesel Average Price Hits Nearly 4-Year High; 4th Round of Oil Product Price Cap Implemented
South Korea has implemented its fourth round of the maximum price limit system for petroleum products as the average diesel price surpassed 2,000 Korean Won per liter for the first time in nearly four years, aiming to control soaring oil prices driven by Middle East tensions.
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- 📰 Published: April 25, 2026 at 18:21
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Middle East War Key News
Central News Agency
(Central News Agency, Seoul, 25th, comprehensive foreign report) South Korea implemented its fourth round of the maximum price limit system for petroleum products starting midnight yesterday. The average price of diesel at gas stations nationwide exceeded 2,000 Korean Won per liter (approximately NT$42.6) for the first time in nearly four years.
According to Yonhap News Agency, data from the Korea National Oil Corporation's oil price information system Opinet showed that as of 9 AM yesterday, the average national diesel price was 2,001 Korean Won per liter, an increase of 0.2 Korean Won from the previous day. This marks the first time diesel prices have surpassed 2,000 Korean Won since July 27, 2022 (2,006.7 Korean Won per liter), a period of 3 years and 9 months.
The average national gasoline price reached 2,006.2 Korean Won per liter, an increase of 0.4 Korean Won from the previous day. Gasoline prices had already exceeded 2,000 Korean Won on the 17th, against the backdrop of escalating geopolitical risks due to the Middle East conflict.
South Korea officially implemented the maximum price limit system for petroleum products starting midnight on March 13, to effectively regulate the soaring domestic oil prices caused by the volatile situation in the Middle East. Subsequently, the government implemented the second and third rounds of price limits on March 27 and April 10, respectively. This is the first time the government has implemented an oil price cap system since the oil market was liberalized in 1997. (Editor: Ho Hung-ju) 1150425
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Central News Agency
(Central News Agency, Seoul, 25th, comprehensive foreign report) South Korea implemented its fourth round of the maximum price limit system for petroleum products starting midnight yesterday. The average price of diesel at gas stations nationwide exceeded 2,000 Korean Won per liter (approximately NT$42.6) for the first time in nearly four years.
According to Yonhap News Agency, data from the Korea National Oil Corporation's oil price information system Opinet showed that as of 9 AM yesterday, the average national diesel price was 2,001 Korean Won per liter, an increase of 0.2 Korean Won from the previous day. This marks the first time diesel prices have surpassed 2,000 Korean Won since July 27, 2022 (2,006.7 Korean Won per liter), a period of 3 years and 9 months.
The average national gasoline price reached 2,006.2 Korean Won per liter, an increase of 0.4 Korean Won from the previous day. Gasoline prices had already exceeded 2,000 Korean Won on the 17th, against the backdrop of escalating geopolitical risks due to the Middle East conflict.
South Korea officially implemented the maximum price limit system for petroleum products starting midnight on March 13, to effectively regulate the soaring domestic oil prices caused by the volatile situation in the Middle East. Subsequently, the government implemented the second and third rounds of price limits on March 27 and April 10, respectively. This is the first time the government has implemented an oil price cap system since the oil market was liberalized in 1997. (Editor: Ho Hung-ju) 1150425
Choose to stand with facts; every sponsorship you provide is a force to protect press freedom.
Download the Central News Agency's "First-hand News" APP to stay updated with the latest news.
The text, images, and audio-visual content on this website may not be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.