{
  "id": 14942974,
  "title": "Seoul keeps fuel price caps unchanged amid Mideast tensions",
  "url": "https://urgent.news/2026/10/16/seoul-keeps-fuel-price-caps-unchanged-amid-mideast-tensions-14942974",
  "topic": "world",
  "section": "World",
  "published": "2026-10-16T11:42:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/economy/policy/20261016/seoul-keeps-fuel-price-caps-unchanged-amid-mideast-tensions"
  },
  "original_language": "en",
  "account": "The South Korean government decided to maintain its fuel price caps unchanged for a fourth consecutive four-week period on Friday, amidst high international oil prices and ongoing tensions in the Middle East, according to the Industry Ministry. Local refiners will continue to supply gasoline, diesel, and kerosene to gas stations at fixed prices of 1,784 won, 1,773 won, and 1,380 won per liter, respectively, starting Saturday. This decision comes after the government had lowered the price caps to their present levels on June 26, as part of a 16-week policy since June 27. High international oil prices have been above $100 per barrel, with Brent crude reaching $105.90 per barrel on October 15, subsequently raising the prices of petrochemical products. The government's price freeze strategy is intended to mitigate upward pressure on consumer prices, the Ministry stated. Initially introduced in mid-March, fuel price caps were implemented to stabilize domestic fuel prices amid supply chain disruptions caused by the U.S.-Iran conflict in the Middle East. The government intends to reassess the emergency measures as necessary.",
  "summary": "The government on Friday kept its price caps on fuel products unchanged for a fourth consecutive period amid elevated international oil prices and continued tensions in the Middle East, the industry ministry said. The maximum prices at which local refiners can supply gasoline, diesel and kerosene to gas stations will remain unchanged at 1,784 won (US$1.30), 1,773 won and 1,380 won per liter,…",
  "key_points": [
    "South Korean government maintains fuel price caps unchanged for fourth consecutive four-week period",
    "Strategy aims to curb upward pressure on consumer prices amid high international oil prices"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "Seoul keeps fuel price caps unchanged amid Mideast tensions",
        "url": "https://urgent.news/2026/10/16/seoul-keeps-fuel-price-caps-unchanged-amid-mideast-tensions",
        "published": "2026-10-16T09:00:01.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Seoul keeps fuel price caps unchanged amid Mideast tensions",
        "url": "https://urgent.news/2026/10/16/seoul-keeps-fuel-price-caps-unchanged-amid-mideast-tensions-14946800",
        "published": "2026-10-16T11:57:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}