Retail price of gasoline continues to rise

SEOUL, Jan. 18 (Yonhap) -- Retail prices for gasoline in South Korea have risen
20 days in a row due mainly to an increase in global oil prices, a state-run oil
corporation said Monday.

The country's regular gasoline retail prices averaged 1,670.71 won (US$1.48) per
liter as of Sunday, up 2.04 percent from Dec. 28 when prices hit a two-month low,
according to data posted on-line by Korea National Oil Corp.
The average retail price in Seoul was 1,749.42 won per liter, up 3.9 percent from
Dec. 24, with gas most expensive in its Jung Ward at 1,841.38 won per liter. The
average price at the pump in Seoul fell to a two-month low of 1,696.98 won per
liter on Dec. 24.
The upswing is likely to continue until next week as "it takes one or two weeks
for domestic retail prices to reflect global oil prices, which have fallen
slightly recently," an industry source said.
jia@yna.co.kr
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