Home > Business > Industry

Fair Trade Commission probes alleged price-fixing by gas stations

Published: 13 Mar. 2026, 19:15

Inspectors examine prices at a gas station in Daegu on March 12. [YONHAP]

The antitrust regulator is looking into suspected price-rigging collusion cases involving gas stations in southern regions amid volatile energy prices stemming from ongoing turmoil in the Middle East, officials said on Friday.

Ju Biung-ghi, the chair of the Fair Trade Commission (FTC), made the remark at a meeting of a special government task force of ministers overseeing market prices the previous day, according to FTC officials.

Ju reported that several gas stations in Busan, North Gyeongsang and Jeju are subject to an FTC investigation over alleged price-fixing.

He stressed that the FTC will impose stern penalties on business practices found to have gained unfair profits by exploiting the situation, according to the FTC.

The regulator has been conducting inspections on gas station prices nationwide after domestic fuel prices surged following the Iran war.

As part of efforts to ease soaring fuel prices and reduce burdens on consumers, the government introduced a fuel price cap system earlier in the day. The system sets maximum prices for petroleum products supplied by oil refiners to gas stations and distributors.

The FTC announced that Ju also vowed continued efforts to lower prices of everyday groceries to ease pressure on people, citing recent price cuts of bread, instant noodles and snack products by local food manufacturers.

The watchdog previously penalized flour and sugar companies over price-fixing allegations.

Yonhap