Soaring Milk Prices... Government Launches 'Special Inspection Team'

Ministry of Industry Launches 'Kerosene Special Inspection Team'
Gas Stations in Gyeonggi-do to be Inspected Twice Weekly or More

On the 20th, at a gas station in Seoul where prices of kerosene, known as the "common people's fuel," continue to rise and are being sold at higher prices than gasoline in some areas, gasoline is sold at 1,609 KRW per liter, kerosene at 1,650 KRW, and diesel at 1,835 KRW per liter. Photo by Jinhyung Kang aymsdream@

[Asia Economy Sejong=Reporter Lee Jun-hyung] The government is launching a special inspection team to lower the price of kerosene, known as the 'fuel for the common people.'

The Ministry of Trade, Industry and Energy announced on the 24th that it will form a 'Kerosene Special Inspection Team' in cooperation with related ministries such as the Ministry of Economy and Finance and the Fair Trade Commission. The special inspection team plans to encourage price reductions at gas stations and general retailers nationwide that handle large quantities of kerosene and maintain high prices.

The Ministry of Trade, Industry and Energy formed the special inspection team due to soaring kerosene prices ahead of the full winter season. As of the 23rd, the average selling price of kerosene at gas stations nationwide was 1,600.8 KRW per liter, more than 500 KRW higher than on January 1st this year (1,087.4 KRW). At some gas stations, a price inversion phenomenon occurred where kerosene was sold at a higher price than gasoline.

Originally, the government imposed lower fuel taxes on kerosene than on gasoline and diesel, considering that kerosene is mainly used as a heating fuel for low-income households. However, due to the Ukraine crisis limiting the supply of Russian oil products and the recent increase in demand for heating fuel during the winter season, international kerosene prices have also surged. A Ministry of Trade, Industry and Energy official explained, "Increased distribution costs by gas stations and other sellers have also contributed to raising domestic kerosene prices."

The special inspection team plans to conduct inspections at least twice a week, focusing primarily on gas stations in Gyeonggi Province. The Ministry of Trade, Industry and Energy will also inspect more than 1,000 gas stations by the end of the year for illegal activities such as the manufacture and distribution of counterfeit oil. If illegal activities are detected, the ministry will proceed with business suspension orders through local governments and coordinate with relevant investigative agencies to pursue criminal penalties.

Yoo Beop-min, Director of the Resource Industry Policy Bureau at the Ministry of Trade, Industry and Energy, said, "The soaring kerosene prices can be a significant burden for vulnerable groups using oil boilers and other heating devices," adding, "We will provide maximum support to vulnerable groups through energy vouchers and hold weekly inspection meetings with the refining and gas station industries."

This content was produced with the assistance of AI translation services.