As the number of Covid-19 cases spike, people are shifting from public transportation to private cars, but with high gas prices, the move is costing them plenty.
A price panel at a gas station in Seoul on Sunday shows gasoline at 1,698 won ($1.5) per liter. Oil prices in Korea rose for the ninth consecutive week to reach the highest level in nearly three years amid a global oil rally.
A sign at a local gas station in Seoul on Sunday shows the price of gasoline at 1,609 won ($1.44) per liter.
Lee Min-young, a 39-year-old office worker and resident of Samseong-dong, southern Seoul, was startled upon her visit to a gas station in her neighborhood, when she saw that the price of gasoline was 1,528 won ($1.41) per liter.
Hyundai Motor said Tuesday it will produce the all-new Tucson sport utility vehicle (SUV) in its U.S. plant to meet local demand for SUV models.
Some 70 gas stations in Korea went out of business over the past six months amid the pandemic.
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.
A gas station in Yangcheon District, western Seoul, advertises the price of gasoline at 1,174 won ($0.96) per liter on Tuesday. The weekly price of gasoline in Korea is expected to keep falling.