Lee-Mideast crisis

Lee urges cooperation on energy-saving efforts, pledging no change in electricity prices

By Kim Eun-jung

SEOUL, March 26 (Yonhap) -- President Lee Jae Myung on Thursday urged the nation to cooperate on energy-saving efforts as the prolonged war in the Middle East has disrupted global energy markets, but pledged no change in electricity prices.

Lee made the remarks during an emergency economic response meeting, as the government is set to impose another round of a fuel price cap to help protect the nation's economy from impacts from the U.S.-Israel war with Iran.

"(I) urge gas stations to actively cooperate in setting prices in line with the intended purpose of the oil price cap system," Lee said.

"Taking advantage of a national crisis to seek unfair profits through practices such as collusion and hoarding will not be tolerated and the government will continue to respond strictly under a zero-tolerance principle," Lee said.

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