President Lee Jae Myung said Saturday that South Korea would keep gasoline and diesel prices stable despite surging international energy costs, pointing to government efforts to diversify crude supplies and control domestic petroleum prices. In a social media post, Lee said the share of crude imports sourced from the Middle East had fallen from around 70% to the 50% range within several months, while Seoul was subsidizing longer-distance crude shipments and using strategic reserve swaps to support supplies.

Lee also cited maximum refinery prices, export restrictions and measures against hoarding and collusion, while saying the government would compensate refiners