South Korea’s domestic gasoline and diesel markets remained broadly stable despite a sharp global oil-price surge and worsening disruptions around the Strait of Hormuz. President Lee Jae Myung said the public should not worry about fuel prices, citing diversified crude imports, a strategic petroleum reserve swap system, maximum price controls and export-volume limits. He said domestic refiners were recording unprecedented prosperity from higher international refined-product prices and that government compensation for losses from domestic controls had supported record-high growth. Separately, nationwide gasoline prices fell for a 17th consecutive week to 1,859.1 won per liter in the second week of September, while diesel declined to 1,844.0 won. Dubai crude rose $14.4 to $114.7 per barrel, while Brent and West Texas Intermediate futures posted weekly gains of 8.7% and 9.4%, respectively. Lee acknowledged that the Middle East still supplied about 50% of South Korea’s crude imports and pledged to protect oil shipping routes, tankers and crews.