Cost of gas to increase as the price of inputs rises

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Cost of gas to increase as the price of inputs rises

Utility bills for gas used for heating and cooking will rise 4.5 percent from Monday, the Ministry of Trade, Industry and Energy said Friday.

This is the first increase of gas prices since July of last year, when utility bills were increased by 4.2 percent.

The government said that one megajoule will cost 15.24 won ($0.013) up from the previous 14.58 won.

For households, the bill will increase by an average 3.8 percent, while for industrial use it will increase 5.4 percent.

The ministry said prices have increased because of the rising prices of fuel, including crude oil.

It said while utility bills should have been increased earlier, it waited out of consideration for low-income households.

By Lee Ho-jeong

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