Seoul: President Lee Jae Myung on Thursday urged the nation to cooperate on energy-saving efforts as the prolonged war in the Middle East has disrupted global energy markets, but pledged no change in electricity prices. Lee made the remarks during an emergency economic response meeting, as the government is set to impose another round of a fuel price cap to help protect the nation's economy from impacts from the U.S.-Israel war with Iran.
According to Yonhap News Agency, Lee called on gas stations to actively cooperate in setting prices in line with the intended purpose of the oil price cap system. He emphasized the importance of maintaining fair practices and warned against taking advantage of the national crisis for unfair profits through practices such as collusion and hoarding. Lee assured that the government would continue to respond strictly under a zero-tolerance principle to ensure compliance and fairness in the energy sector.