On the third day of the maximum price system for petroleum products, implemented on the 13th, the average gasoline price at gas stations in South Korea continued to decline, reaching 1840.85 won per liter. However, the decline was much smaller compared to earlier. According to the Korea Petroleum Association, the price dropped from 1845.31 won to 1840.85 won. Diesel prices also fell slightly, influenced by the government's intervention to set supply price caps for various petroleum products including gasoline, diesel, and kerosene. The prescribed maximum prices are set at 1724 won for gasoline, 1713 won for diesel, and 1320 won for kerosene, effective since the 13th.

The report highlights a significant reduction in the price gap between diesel and gasoline, which had previously exceeded 20 won but has now narrowed to just 1.21 won. This change is attributed to the government's pricing measures, particularly as diesel prices had soared during recent global demand spikes, notably triggered by geopolitical tensions, which had resulted in diesel prices exceeding gasoline prices since early March. The average fuel prices peaked at the beginning of October at over 1900 won following the outbreak of the military conflict between Israel and Iran but have since shown a gradual decline.

In response to the price fluctuations and the need for stability, the South Korean government expressed its commitment to ensuring that the price stabilization measures are effective and noticeable to the public. The government plans to conduct intensive inspections of gas stations over the next two weeks to monitor compliance with the new regulations and to combat any illegal activities related to the maximum price system, such as hoarding.