A person refuels his automobile at a fuel station in Seoul, Dec. 7. Yonhap
The business ministry on Wednesday requested main oil corporations to chorus from partaking in drastic value hikes amid latest volatility in world power costs, officers mentioned.
The request was made throughout a gathering with 4 main home oil refineries, together with SK Power and GS Caltex, and associated establishments held to debate market situations within the petroleum market.
The ministry mentioned it has requested for voluntary cooperation from oil refiners and fuel station operators to stop extreme value will increase to assist alleviate monetary burdens on companies and on a regular basis power consumption.
Market watchers have expressed considerations over a rise in home oil costs in keeping with latest hikes in worldwide petroleum costs.
International petroleum costs had decreased to $77.7 per barrel within the fourth week of November from $80.2 two weeks earlier, however rebounded to $79.4 final week, in accordance with the ministry.
