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FTC chief reports that probe into gas station price-fixing is almost complete

Published: 15 Apr. 2026, 14:19

A driver is seen refueling his vehicle at a gas station in Seoul on April 15. [NEWS1]

Korea's antitrust watchdog will soon complete its investigation of gas station price-fixing and collusion.

“The Fair Trade Commission [FTC] will soon conclude its probe and impose appropriate measures, including corrective orders or fines, depending on the severity of any violations,” FTC Chairman Ju Biung-ghi said in a radio interview on Wednesday.

He said on-site inspections were conducted at gas stations in Busan, Jeju, Gyeonggi and North Gyeongsang, where fuel prices were significantly higher than in other areas.

The Korean government has been stepping up measures against collusion in petroleum products and other essential goods following supply disruptions linked to tensions in the Middle East.

Global oil prices have surged following disruptions to shipping routes in the Strait of Hormuz, which have affected global supply flows. Korea imports nearly 98 percent of its crude oil supplies, mostly from the Middle East.

Yonhap