South Korea will reduce the ceiling on fuel prices to align with the recent drop in global crude oil markets, the finance minister announced Friday.
The government also confirmed that electricity and natural gas tariffs will remain frozen for the second half of the year, aiming to shield households and businesses from further cost pressures.
The decision reflects a direct pass-through of lower international energy costs to domestic consumers.
By adjusting the fuel price cap downward, authorities seek to ease inflationary pressures on transport and logistics, which have been sensitive to oil market volatility.
The freeze on utility rates provides additional stability for industrial users and residential consumers during a period of economic uncertainty.
This policy shift comes as global crude prices have softened, creating an opportunity for governments to mitigate the impact of previous energy spikes.