HD Hyundai Oilbank to pay $36 million to 2,100 gas stations

On the 14th, HD Hyundai Oilbank said it will distribute 50 billion won ($36 million) in relief funds to about 2,100 gas stations that have petroleum supply contracts with the refiner, retroactively compensating sales made during the March 13 to June 30 price cap period. The company plans to pay 30 won per liter on capped sales of regular gasoline, diesel and indoor kerosene, saying the measure is meant to offset pressure from high oil prices and the price cap (a limit on covered fuel prices) introduced after conflict between the United States and Iran, while helping keep petroleum supply and distribution stable. HD Hyundai Oilbank said the support should strengthen gas station operators' financial stability, back the government's oil price stabilization policy and improve the company's external credibility.

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