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Drivers rush to fill up, fearing Iran strikes will result in gas price hikes

Published: 01 Mar. 2026, 20:09 Updated: 02 Mar. 2026, 16:14

People fill their vehicles with fuel at a gas station in Seocho District, southern Seoul on March 1. [YONHAP]

Concerns over instability in the Middle East following reports of the death of Iran’s Supreme Leader Ayatollah Ali Khamenei prompted motorists across Korea to fill up their tanks before fuel prices rise.

At around 10 a.m. on Sunday, three to four vehicles lined up at the entrance of a self-service gas station in Gwanak District, southern Seoul, causing brief congestion on the road. The station posted a gasoline price of 1,695 won per liter ($4.45 per gallon), lower than the district average of 1,738 won, drawing drivers seeking cheaper fuel.

“I saw the news about airstrikes on Iran and thought fuel prices would rise further, so I came to fill up in advance,” said Nam Yoon-sung, who drove from Seocho District, southern Seoul. “The won keeps weakening and prices keep rising, so fuel costs feel burdensome.”

A gas station in Incheon also drew a steady flow of drivers.

“I just came out of a sauna, and people there were also saying fuel prices would go up,” Lee Jong-hwa said. “I came to fill up before prices increase.”

Another driver, Han Yong-hoon, said that his tank was still about 30 percent full but that he decided to refuel early.

“I worry prices might go up starting tomorrow because of the war,” he said.

Gasoline and diesel prices appear on a price board at a gas station in Seocho District, southern Seoul on March 1. [YONHAP]

Online communities also carried posts from travelers who faced flight cancellations to the Middle East.

“A planned trip to Abu Dhabi in the United Arab Emirates on Monday had been canceled after regional air routes closed,” a travel agency owner surnamed Kim said. “I canceled my bus ticket to Incheon International Airport and unpacked in a hurry.”

Another social media user posted that Hamad International Airport in Qatar had closed because of the conflict.

“My younger sibling is at the airport in Qatar and feels anxious because flights have completely stopped,” the user wrote.
Individual investors have also turned their attention to gold, which many consider a safe-haven asset.

“I currently hold 2 million won ($1,390) worth of gold, and I think prices will keep rising,” a worker surnamed Cho said. “I plan to buy another 3 million won worth of gold soon.”

A civil servant surnamed Kim also said ongoing uncertainty has increased interest in gold.

“Cryptocurrency and stocks have been popular, but with war and tariffs creating uncertainty, more people are looking at gold,” Kim said.

Gold futures traded on the Chicago Mercantile Exchange stood at $5,267.2 per troy ounce as of Saturday, up 25.3 percent from three months earlier, according to financial data platform Investing.com.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY OH SAM-GWON, BYUN MIN-CHUL AND LEE GYU-RIM [[email protected]]