This article was displayed on the ChosunBiz CSR website at 2:34 p.m. on Mar. 13, 2026.
Domestic fuel prices rose rapidly after the U.S. and Israel's airstrikes on Iran. While gas prices at stations nationwide have been climbing day after day, a different picture emerged on Ulleung Island in the middle of the East Sea. That is because gasoline prices at the island's three gas stations have stayed the same for nearly two months. Some stations have kept the same price for 49 days.
According to Opinet, the oil price information system of the Korea National Oil Corporation (KNOC), as of the 12th, gasoline sold at gas stations on Ulleung Island cost 1,969–1,989 won per liter (L). Ulleung Island has a total of three gas stations: one sells at 1,969 won per liter, and the other two both sell at 1,989 won.
Gasoline prices on Ulleung Island have not budged despite the Middle East crisis. The station selling at 1,969 won per liter has kept the same price for 48 days from Jan. 22 through the previous day. The other two set their prices on Jan. 21 and 22, respectively, and have maintained them for 48 and 49 days.
That contrasts with the recent trend in domestic fuel prices. The average domestic gasoline price rose for 10 straight days after the U.S. and Israel's airstrikes on Iran on Feb. 28. The price, which was 1,692.89 won per liter at the time, climbed to 1,906.95 won on the 10th. During the same period, diesel jumped from around 1,600 won per liter to the 1,900-won range, and kerosene rose from the 1,300-won range to the 1,600-won range.
The reason fuel is expensive on Ulleung Island is its geographic characteristics as an island and its distribution structure. There are only three gas stations on Ulleung Island. Unlike the mainland, which has refiners' storage facilities or pipelines, islands transport fuel by ship, store it, and then supply it to each station. In this process, added maritime transport expenses and unloading and storage expenses inevitably push up prices.
The small market size also affects price formation. The number of vehicles and fuel consumption on Ulleung Island are far lower than in mainland cities. Because sales volume is small, it is difficult to lower prices through bulk purchases, and operators say they have no choice but to reflect facility maintenance costs and labor costs in retail prices.
The reason there is almost no price difference among stations is also related to the distribution structure. Most gas stations on Ulleung Island are supplied with fuel through similar channels. Because they use the same transport vessels, their cost structures are almost identical, leading to similar retail prices.
Some also point out that with only three stations in total, the structure does not allow for active price competition. However, the industry says it is hard to view this as a simple collusion issue, given that structural expense components such as transport and logistics are significant.
Ulleung Island has repeatedly drawn controversy for high prices. Some interpret that, regardless of external factors such as the current Middle East situation, fuel had already been sold at high prices, so there was little additional upward pressure this time.
Ulleung County said it has continued consultations with gas stations to stabilize fuel prices. It said it induced price cuts by offering additional subsidies for local transport costs on top of existing maritime transport and vessel carriage costs. However, there is also an assessment that the effect is limited for travelers and residents to feel.
An Ulleung County official said, "Last year we supported about 1.276 billion won in transport costs," and added, "We will continue to monitor local oil prices."