Industry Minister Kim Jung-kwan vowed on Monday to respond sternly to gas stations that excessively hike fuel prices — despite a price cap system in place — after spot-checking a gas station suspected of unfair market practices, Kim's office said.
Concerns over instability in the Middle East following reports of the death of Iran’s Supreme Leader Ayatollah Ali Khamenei prompted motorists across Korea to fill up their tanks before fuel prices rise.
Gas prices in Seoul decreased again this week, with average gasoline prices at 1,629.8 won ($1.19) per liter (0.26 gallons), down 3.5 won from the previous week.
The average price of gas in Korea dropped to 1584.15 won ($1.17) per liter on Tuesday.
Vouchers and discounted gas rates will be provided to lift the burden of heating costs for the socially vulnerable, the presidential office announced Thursday. The announcement was made Thursday morning during a briefing at the presidential office...
Electricity and gas bills are set to be be raised simultaneously this month. Following the changes, an average family of four will pay 2,270 won more per month for electricity and 5,400 won per month for gas.
This year, the government is considering raising its consumer spending forecast from 2.2 percent to 4 percent, for the first time since 2011.
A liter of gasoline sold at 1,359 won ($1.13) at a gas station in Seoul on Sunday. Gas prices have been rising for three consecutive weeks, recently topping 1,300 won per liter. That’s 29.5 won more than a week ago.
Korea JoongAng Daily Sitemap
