S. Korea mulls adopting oil price cap system for 1st time in 30 yrs: sources

The government is considering adopting a price cap system for oil for the first time in nearly 30 years, sources said Sunday, amid concerns over rising energy prices following the escalating conflict in the Middle East. Officials began reviewing the possibility after surging global crude prices were reflected almost immediately in domestic fuel prices, rather than after the typical two-week lag, following US-Israeli strikes on Iran and Tehran's retaliatory attacks in the region. South Korea, whi

By The Korea Herald