South Korea’s diesel subsidy hike likely to boost consumer sentiment during peak driving season
South Korea’s surging retail diesel prices have dampened consumer sentiment, but the government’s subsidy rate hike and rapid removal of COVID-19 restrictions would lead to higher demand for the middle distillate fuel over the peak summer driving season, refinery sources and industry analysts said over May 18-20. The government would provide more diesel subsidies to cargo truck and taxi drivers,…