South Korea to provide cheaper gasoline at thrifty outlets

The South Korean government will supply gasoline for state-backed “thrifty” gas stations at a lower price.
The government will source about 30-35 million liters of gasoline from the inventory being held by the Korea National Oil Corp. It said it will sell these gasoline stocks for KRW 1,800 (U$1.60) per liter, when gasoline prices rise more than KRW 2,000 (US$1.78) per liter.
The move was prompted by concerns expressed at a ministerial level meeting, over a looming price hike in utility bills and food. (February 28, 2013)