Seoul, March 26 (IANS) President Lee Jae Myung on Thursday urged the nation to cooperate on energy-saving efforts as the prolonged war in the Middle East has disrupted global energy markets, but pledged no change in electricity prices.Lee made the remarks during an emergency economic response meeting, as the government is set to impose another round of a fuel price cap to help protect the nation’s economy from impacts from the US-Israel war with Iran, reports Yonhap news agency.”(I) urge gas sta…
Latest fuel price cap system News & Updates
Seoul, March 13 (IANS) The antitrust regulator is looking into suspected price-rigging collusion cases involving gas stations in southern regions amid volatile energy prices stemming from ongoing turmoil in the Middle East, officials said on Friday.Ju Biung-ghi, chairman of the Fair Trade Commission (FTC), made the remark at a meeting of a special government task force of ministers overseeing market prices the previous day, according to FTC officials, reports Yonhap news agency.He said several g…
Seoul, March 13 (IANS) South Korean stocks trimmed losses late on Friday morning but continued to trade in negative territory as global crude prices fluctuated after the new Iranian leader vowed to keep the blockade of the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) fell 76.62 points, or 1.37 percent, to 5,506.63 as of 11:20 a.m.Global crude prices have swung back to the $100 level after extreme volatility, with disruptions at the key waterway in the Middle East show…