Video Mug: Why Are Gas Prices Slow to Drop After the War Ended?

As of June 30, the average price at gas stations nationwide has fallen to the 1,950 won range.

This is thanks to the government's implementation of the 7th price ceiling system, which lowered prices by 150 won starting at midnight on June 27.

The government has projected that prices will soon drop into the 1,800 won range.

However, Video Mug had a question.

Why do local gas stations raise prices at the speed of light when international oil prices rise, yet lower them so slowly when prices fall?

Is it just a hunch, or is there more to it?

So, we examined domestic gas prices for one week starting February 28, when the U.S.-Iran war broke out, and compared them to prices around June 17, when the U.S. and Iran reached a ceasefire agreement, and June 25, when international oil prices fell even lower than they were before the war began.

Please watch the record of that process now.

Reported by Jo Gi-ho | Edited by Kim In-sun | CG by Jo Seung-hyun | Produced by Intellectual Content IP Team

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