HD Hyundai Oilbank will pay 50 billion won in support funds to gas stations facing heavier management burdens from high oil prices and the government's petroleum product price cap. The recipients are about 2,100 gas stations in Korea that have signed petroleum supply contracts with HD Hyundai Oilbank.
HD Hyundai Oilbank said on the 14th it will pay "high oil price crisis relief funds" to its branded gas stations to ease the industry's operating burdens from high prices and the price cap following the outbreak of war between the United States and Iran and to maintain a stable petroleum product supply chain.
The support period runs from Mar. 13, 2026, when the price cap began, through Jun. 30. HD Hyundai Oilbank plans to retroactively pay support funds of 30 won per liter on sales volumes of all fuel types covered by the petroleum price cap—regular gasoline, diesel, and indoor kerosene—sold by the gas stations during that period.
HD Hyundai Oilbank expects this support to enhance the operational stability of gas stations struggling with oil price volatility and the petroleum price cap, and to help maintain stable supply and distribution networks for petroleum products. The initiative also reflects the intent to actively align with the government's win-win policy stance, thereby contributing to the stabilization of the energy supply chain and boosting external credibility.
An HD Hyundai Oilbank official said, "We decided on this support to practice the value of mutual growth with gas stations that are facing difficulties due to the recent increase in energy market volatility and the implementation of the price cap," and added, "We will continue to cooperate actively with the government's oil price stabilization policy, based on co-prosperity with gas stations and stable energy supply."