석유 최고가격 9차도 동결…휘발유 1784원·경유 1773원

The government has frozen the highest oil prices for the ninth time. Despite rising international oil prices due to instability in the Middle East, the ministry decided to maintain existing prices because of rising public pressure from extreme heat and heavy rain. The Ministry of Industry and Trade announced on the 21st that the ninth highest oil price would be set at 1,784 won per liter for gasoline, 1,773 won per liter for diesel, and 1,380 won per liter for kerosene.

This price will apply for four weeks starting the 22nd. The oil price freeze is a system that sets a maximum retail and wholesale price for state-owned oil companies' gas stations and affiliates during specific periods of time. The freeze was first implemented on March 13th and has been applied in its second form since March 27th, with gasoline at 1,934 won per liter, diesel at 1,923 won, and kerosene at 1,530 won per liter.

The government lowered the prices by 150 won each for all three fuels when it imposed the seventh freeze on June 27th, and now follows the same level for the ninth freeze. The decision to freeze prices again was influenced by the renewed uncertainty in the Middle East. After the agreement between the US and Iran expired last June, tensions between the two countries continued, causing international oil and petroleum product prices to rise again.

While Brent crude was at $93.80 per barrel on the 20th, two months ago it was trading at $70 a barrel, and WTI was $87.80, up from $95.60 and $87.80 respectively. International petroleum product prices have also risen. The government believes current international oil and product prices are similar to when the eighth freeze was implemented on June 27th, and combined factors such as Middle East tension, oil supply, domestic prices, public pressure, and demand management will be continuously monitored and adjusted in the freeze system.