South Korea Keeps Fuel Cheap for Holidays as Fiscal Cost Mounts

AI Summary

South Korea is maintaining fuel price caps during a three-day public holiday to shield its population from rising global oil prices that have surpassed $100 a barrel. This government action aims to keep fuel affordable amid increasing fiscal costs ahead of high travel demand.

With millions of South Koreans set to hit the road this week during a three-day public holiday, the government is extending fuel-price caps, cushioning households from an energy shock that has pushed global oil prices above $100 a barrel.