Diesel Prices Surge by 850 Won at Altteul Gas Stations... Government to Inspect All 1,300 Stations Nationwide

After Sensing Government Crackdown, Price Dropped by Over 600 Won
Problematic Altteul Station Managed by Korea National Oil Corporation
Government Issues Stern Warning to Korea National Oil Corporation

Soo-juk Sohn, President of Korea National Oil Corporation (left), visits the Ulsan Jayoung Discount Gas Station on the 9th to inspect the status of petroleum product deliveries by tanker trucks. Korea National Oil Corporation.

Recently, as international oil prices have surged due to instability in the Middle East, the government has launched a full-scale investigation after confirming that some Altteul gas stations, which operate as a price stabilization mechanism, had sharply raised diesel prices.

The Ministry of Trade, Industry and Energy announced on the 11th that it had identified cases of excessive price increases at several Altteul gas stations. The ministry stated that it had issued a stern warning to Korea National Oil Corporation, which manages these stations, and ordered immediate fact-finding as well as the establishment of measures to prevent recurrence.

Previously, one Altteul gas station in Gwangju, Gyeonggi Province, recorded the largest price increase nationwide by raising the price of diesel by more than 850 won per liter within five days following the outbreak of war in Iran. However, after the government’s monitoring efforts became apparent, the station lowered the price by more than 600 won in a single day. This Altteul gas station is managed by Korea National Oil Corporation.

The Altteul gas station system was introduced to improve the distribution structure of petroleum products and guide price stability. It is a policy tool designed to maintain relatively lower prices than regular gas stations, thereby restraining price increases at surrounding stations.

The government is using this incident as an opportunity to inspect the prices at all Altteul gas stations. The Ministry of Trade, Industry and Energy plans to conduct a comprehensive investigation into fluctuations in gasoline and diesel prices at all Altteul gas stations nationwide since February 28, in order to identify cases of excessive price hikes. There are currently 1,318 Altteul gas stations nationwide, with 395 managed by Korea National Oil Corporation, 209 by Korea Expressway Corporation, and 714 by NH Nonghyup.

The Ministry stated that it will take strong action against any gas stations found to have excessively raised prices during this period. It will also require Altteul gas station management organizations—including Korea National Oil Corporation, Korea Expressway Corporation, and NH Nonghyup—to establish measures to prevent recurrence and will monitor the implementation of these measures.

Minister of Trade, Industry and Energy Kim Jeonggwan stated, “With the recent surge in international oil prices increasing the burden on the public, I am deeply sorry as the responsible minister that such an incident has occurred at Altteul gas stations, which should set an example.”

He added, “The public’s trust that they can purchase high-quality petroleum products at reasonable prices at Altteul gas stations is of utmost importance. If this trust collapses, there is no reason or value for the existence of Altteul gas stations. We will respond strictly and without exception to any unfair price increases and market-disrupting actions.”

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