Nationwide Gas Prices Plummet in First Week of Price Cap Implementation

In the first week since the government introduced the oil price cap system, gas prices at gas stations nationwide have actually fallen significantly, easing the burden on consumers. Nationwide gas prices have sharply declined in the first week of the oil price cap implementation.

According to the Korea National Oil Corporation's Opinet price information system, the average retail price of gasoline nationwide during the third week of March recorded 1,829.3 won per liter, down 72.3 won from the previous week. During the same period, the average retail price for diesel fell by 96.5 won from the previous week to 1,828.0 won, showing a larger drop than gasoline.

Citizens were seen refueling their vehicles at a gas station located at the Yongin Rest Area (Incheon bound) on the Yeongdong Expressway in Cheoin-gu, Yongin-si, Gyeonggi Province, on March 22, 2026.