business
informative

Fuel hoarding escalates in North Korea as oil prices surge

Apr 21, 2026, 1:09 PM10
(Update: Apr 21, 2026, 1:09 PM)
sovereign state in East Asia
geopolitical region encompassing Egypt and most of Western Asia, including Iran
province of North Korea
online newspaper

Fuel hoarding escalates in North Korea as oil prices surge

  • Fuel hoarding has become widespread in North Korea, especially in Hyesan, as vehicle owners react to rising global oil prices.
  • Purchases are being made from private dealers as state fuel stations limit sales volumes.
  • Continued hoarding and illegal trading are likely due to anxiety about future cost increases amidst ongoing conflicts.
Share opinion
Tip: Add insight, not just a reaction
1

Story

North Korea has witnessed a significant increase in fuel hoarding as of April 2026 due to rising global oil prices resulting from conflicts in the Middle East. Reports from Ryanggang province indicate that vehicle owners in the city of Hyesan are particularly affected, scrambling to stockpile gasoline and diesel in response to escalating prices. As the prices reached alarming levels—77,900 North Korean won per kilogram for gasoline and 72,800 won for diesel—those involved in transport and personal vehicle owners began seeking private fuel dealers to bypass state-imposed sales limits. The anxiety surrounding further price hikes has led to competition among residents to accumulate larger quantities of fuel, with purchases made in 10-kilogram and 20-kilogram containers. These trends are fueled by rumors of continuous price increases, which have circulated within communities, especially among those with access to outside information. Private fuel traders, operating despite the illegality of such transactions, have experienced a surge in demand, allowing them to increase their prices further. In Hyesan, street-side fuel vendors have largely vanished, with buyers resorting to acquiring fuel directly from dealers' private homes. As the local economy braces for the impact of sustained high oil prices, enforcement of regulations by police officers—or 'safety officers' as they are called—has proven ineffective. Although efforts to curb illegal fuel trading are being undertaken, the persistent fear of rising costs has overshadowed any safety concerns related to the handling of stored fuel, presenting a complex situation for the residents. As the outlook on global oil prices remains bleak due to ongoing conflicts, including those involving Iran, the United States, and Israel, it is likely that fuel hoarding will persist across North Korea. Despite potential dangers, the imperative to secure fuel resources has taken precedence, leading to widespread behavior that not only disturbs market dynamics but also engenders safety hazards on the streets. This situation amplifies the challenges for North Korea, where access to essential resources already faces substantial restrictions due to political sanctions and internal enforcement policies.

2026 All rights reserved