Retail gasoline prices continue to soar in S. Korea

SEOUL, Jan. 12 (Yonhap) -- Retail prices for gasoline in South Korea have soared
over the past two weeks, due mainly to rising demand amid a cold snap, a
state-run oil corporation said Tuesday.

The country's regular gasoline retail prices averaged 1,658.43 won (US$1.48) per
liter as of Monday, up 1.28 percent from two weeks ago when prices hit a low for
December, according to data posted on-line by Korea National Oil Corp.
The average retail price in Seoul was 1,741.25 won per liter, up 2.6 percent from
18 days ago, with gas most expensive in its Jung Ward at 1,835.53 won per liter.
The average was the highest in about four months.
Prices at the pump in Seoul slid to an average of 1,698.86 won per liter on Dec.
23 after peaking at 1,771.27 won per liter on Aug. 23.
The continued upturn stems from oil price increases worldwide that come on
expectations of an economic recovery, and rising domestic demand due to a
lingering cold snap, industry sources said.
jia@yna.co.kr
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