South Korea's Industry Ministry said today that it has asked the country's four major oil refiners to refrain from excessive price increases as part of efforts to combat lingering inflation. Second Vice Industry Minister Choe Nam-ho made the remark during his meeting with representatives from SK Energy Co., GS Caltex Corp., S-Oil Corp. and HD Hyundai Oilbank, according to the Ministry of Trade, Industry and Energy. "Although consumer prices have slowed to some extent since April, perceived inflation still remains high," Choe said, adding, "the government plans to take all necessary measures to ease the burden on the public from oil prices." In response, the companies pledged to support the government's initiatives to curb inflation by minimizing price hikes at gas stations, despite rising global crude oil prices, according to the ministry. The government said it plans to release a long-term blueprint for the development of sustainable aviation fuel in the third quarter, which is an environmentally friendly alternative suitable for use in existing aircraft. Source: Qatar News Agency
Related Posts
Finance Minister receives outgoing IOM Chief of Mission in Bahrain
Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, received here today Mohammed Zarkani, the outgoing Chief of Mission of the International Organisation for Migration (IOM) in the Kingdom of Bahrain.The minister praised the…
South Korea, Georgia discuss economic cooperation
Seoul, South Korea and Georgia kicked off another round of talks for a comprehensive economic partnership on trade and supply chains.
The two countries began a three-day session to discuss the envisioned Economic Partnership Agreement (EPA).
The tr…
Financial Analyst to QNA: QNB Group’s Decision to Buyback its Shares Enhances Market Attractiveness
Doha: The Qatar Stock Exchange (QSE) index ended the current week’s trading with an increase of 0.73 percent, gaining 75 points to its balance, thus increasing to 10,398.32 points compared to last week’s closing.
In his remarks to Qatar News Agency ,…