South Korea to cut highway fuel prices by 100 won per liter for Chuseok

  • Government will cut fuel prices at highway gas stations during the Chuseok holiday.
  • 100 won per liter will be deducted from Sept. 24 through Sept. 27.
  • The association says independent stations face shrinking margins and rising operating costs.

Fuel prices at 226 gas stations on state-funded expressways managed by the Korea Expressway Corp. will be reduced by 100 won per liter from Sept. 24 to 27, covering the Chuseok holiday period. The government said the policy is intended to share the public-sector burden of high oil prices and lower costs for highway travelers. The gas station association said it supports easing consumers' fuel burden but opposes applying the reduction only to highway stations, arguing that it would widen the gap with ordinary stations and distort competition. It said independent retailers are already under pressure from shrinking distribution margins under the ceiling price system for petroleum products, alongside higher card fees, transportation, labor, rent and electricity costs. The association warned that absorbing a 100-won-per-liter price difference could cause customer losses and lower sales at stations on national roads and in city centers. It called for substantive support measures and loss compensation if the government proceeds with the policy.

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