(2nd LD) Lee orders retention of oil price caps until price uncertainty completely recedes
President Lee Jae Myung ordered senior officials to maintain oil price caps and related measures until price volatility from the Middle East conflict fully recedes. He emphasized the need to protect vulnerable groups such as truck drivers and farmers from rising fuel costs. The president also highlighted ongoing AI partnership projects and upcoming diplomatic visits to Brazil, Chile, and Argentina.
- ▪Lee instructed officials to keep oil price caps and oil tax cuts in place until market uncertainty diminishes.
- ▪The caps were introduced in mid-March as global oil prices rose to around US$100 per barrel amid renewed Middle East tensions.
- ▪Lee called for scrutiny of market irregularities like price‑fixing to stabilize essential goods prices.
- ▪He announced AI cooperation projects worth about $950 billion and scheduled summits with leaders in Brazil, Chile, and Argentina.
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Facebook X More Pinterest Linked in Tumblr Reddit Facebook Messenger Copy URL URL is copied. OK (2nd LD) Lee orders retention of oil price caps until price uncertainty completely recedes Park Boram All News 10:34 July 27, 2026 This will let Google show Yonhap news articles that match or are related to your search Add Yonhap as a preferred source on Google SHARE Facebook X Pinterest Linked in Tumblr Reddit Facebook Messenger Copy URL URL is copied. LIKE SAVE PRINT FONT SIZE ABCDEFG ABCDEFG ABCDEFG ABCDEFG ABCDEFG (ATTN: UPDATES with more remarks, background, photo from para 8)By Park Boram BRASILIA, July 26 (Yonhap) -- President Lee Jae Myung on Sunday instructed senior officials to maintain oil price caps until price uncertainty completely recedes, citing the renewed confrontation in the…
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