According to industry sources on June 22, SK Energy will introduce a "new pricing policy" that includes advance notice of supply prices and the elimination of post-settlement pricing, along with a temporary 50-won discount on diesel to support essential transport operators.
To ease the fuel cost burden, SK Energy will implement a temporary policy providing a 50-won discount per liter on diesel fuel sold at SK gas stations until the maximum price system is terminated, with the discount starting on June 23.
SK Energy explained that the elimination of post-settlement pricing and the new system will establish clear pricing criteria and standardize transaction conditions for each gas station, allowing for the advance announcement of weekly supply prices to distribution customers.
Gas station operators have expressed dissatisfaction with the post-settlement pricing method, which finalizes and settles supply prices based on market prices after a certain period. In contrast, the refining industry has described the post-settlement system as necessary due to the volatility of international oil prices and the characteristics of the market.
The newly implemented advance notice system is expected to reduce complaints from SK Energy gas stations. Under the new supply price structure, weekly supply prices will be determined and announced in advance based on clear criteria and standardized transaction conditions. Subsequent weekly settlements will be based on the announced prices.
SK Energy stated, "The introduction of the new supply price system aims to enhance the predictability of purchase prices for gas stations and contribute to consumer price stability."
Additionally, starting June 23, SK Energy will temporarily implement a 50-won discount on the retail price of diesel at its gas stations. The 73 directly operated gas stations will reduce their prices by 50 won, while self-operated stations will also receive support to ensure similar price reductions. This discount policy will be in effect for up to one month until the maximum price system is terminated, depending on the normalization of international oil product prices.
Moreover, in response to the heightened need for energy security due to instability in the Middle East, SK Energy plans to continue diversifying its crude oil import sources. The goal is to reduce the proportion of crude oil imported from the Middle East from the current level of about 70% to 50% through expanded sourcing and diversified investment in facilities.
Kim Jong-hwa, CEO of SK Energy, stated, "As a responsible energy company, SK Energy will enhance trust with customers and the market through efforts to improve the supply price determination structure, support for public stability, and diversification of crude oil import sources."
Meanwhile, since the implementation of the maximum price system in March, SK Energy has been providing a post-settlement support of 30 won per liter and a monthly fixed support of 1 million won, amounting to 20 billion won each month.
* This article has been translated by AI.
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