Pump price for premium gas hits a record high
Premium gasoline prices for high-end vehicles including sports cars have been setting record prices.
According to Opinet, the average price of premium gasoline hit a new record yesterday of 2,219.20 won ($1.96) per liter, up 3 won from the previous day. Individual stations had even higher prices.
Last October, premium gas hit a record price of 2,213.55 won per liter before dropping.
Opinet is an energy price information Web site operated by the Korea National Oil Corp.
The state-run energy company said the price rises were due to several factors including the deepening confrontation between Western countries and Iran, the depreciation of the dollar and the exceptional cold in Europe.
On Wednesday, Dubai crude closed $1.18 more than the previous day to reach $116.43 per barrel in Singapore. Dubai crude accounts for 80 percent of Korea’s oil imports.
KNOC projected that the upswing in domestic energy prices will likely continue.
By Lee Ho-jeong [firstname.lastname@example.org]
More in Industry
No dial tone for 2G services on LG U+ starting in June
Ironing out an air corridor took decades
Kia reinvents itself, promising 'movement that inspires'
Hanwha Energy teams up with France's Total in U.S.
Scatter Lab investigated, but not for odd messages