Nam-ki Hong, “The petrol at a thrifty gas station has dropped to 1590 won”… Grab the price of kimchi now

On the 17th, Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki ordered thorough implementation of measures to stabilize the price of living, such as the rapid reflection of the fuel tax cut and the stabilization of supply and demand for kimchi vegetables.

Deputy Prime Minister Hong visited ‘Meeting Square Gas Station’ and ‘Yangjae Nonghyup Hanaro Mart’ at thrifty gas stations in Seocho-gu, Seoul on the morning of the same day to check the price trends of petroleum products, such as fuel tax cuts, and the price trends of major agricultural and livestock products compared to Kimjangcheol.

Recently, international oil prices have risen to the low-$80 level, the highest in three years, and are being reflected in gasoline prices with a time lag of about two weeks. The prices of agricultural and livestock products have continued to rise recently due to the cold wave in early October and increased demand for home-cooked food.

Accordingly, the government announced on the 26th of last month a plan to cut the fuel tax by 20%, the largest ever in history, and has been implementing it since the 2nd. As a result, gasoline is expected to drop by 164 won per liter, diesel by 116 won, and LPG butane by 40 won per liter.

Deputy Prime Minister Hong visited a gas station at the Meeting Square in Seoul and listened to the status of gas stations and fuel tax cuts.

The gas station visited on this day was a thrifty gas station, and the entire fuel tax cut was reflected immediately on the day of enforcement, and the price of gasoline dropped to 1590 won. In addition, since implementation, sales have increased by 23% on a daily basis than usual.

Deputy Prime Minister Hong said, “We took preemptive measures to ensure that the fuel tax cut is reflected quickly through extension of the delivery market and immediate reduction of gas station supply prices. ) and LPG fell 37.8 won (94.4%), so the fuel tax cut is being reflected quickly in 5 days.”

By region, 127.4 won (77.7%) in Seoul and 118.0 won (71.9%) in Incheon were reflected. In Jeju, the 159.8 won cut was the fastest in the country, reflecting 97.4% of the fuel tax cut.

Deputy Prime Minister Hong expected, “Probably 4-5 days later, if even self-owned gas stations participate in the fuel tax cut, the effect of the cut of 164 won will be seen.”

He added, “It is possible to compare prices before and after the fuel tax cut through the Offinet website and smartphone app.

He said, “As the fuel tax cut needs to be reflected quickly to lower the burden of fuel costs and stabilize prices, we will closely monitor the reflection of the fuel tax cut through a daily inspection system such as the operation of a public-private joint market inspection team.” Please actively cooperate with the Ministry of Industry and Trade so that it can appear.”

Next, Deputy Prime Minister Hong went to Yangjae Nonghyup Hanaro Mart to inspect the store and check the price trend of agricultural and livestock products. Currently, radishes and dried red peppers are maintaining a stable price due to better crops than last year. Rice was expensive despite the increase in production this year.

The current price of one cabbage was 4,697 won as of the 16th, and the price of 1 kg of garlic was 11,952 won. The price of 20 kg of rice was 55,402 won.

The price of livestock products also continued to rise due to increased domestic demand, increased logistics costs and international prices. The price of pork belly was 2532 won per 100g, and beef (loin) was 1985 won per 100g.

Deputy Prime Minister Hong emphasized, “We will continue our efforts to stabilize prices through supply and demand management and discount events for major items such as kimchi vegetables, rice, and livestock products, which are relatively expensive.”

In this regard, the government plans to significantly expand market supply for kimchi vegetables such as cabbage and garlic by utilizing government stockpiles and contract cultivation quantities, and for rice, it plans to manage supply and demand so that the effect of increasing production can be fully reflected in the price.

Other irrational structural problems in the mid- to long-term, such as promoting a pork discount event through December 10 through Handon Mall, etc., and introducing a reasonable price determination method through auctions by installing two egg markets in the next month to lower the perceived price of consumers. It is also planned to continuously discover and improve.

Deputy Prime Minister Hong said, “Please thoroughly implement measures to stabilize the price of living, such as quickly reflecting the fuel tax cut and stabilizing the supply and demand of kimchi vegetables.” .


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