Gasoline prices to increase as tax reduction ends
- 5 years ago
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South Korea's temporary fuel tax cut period expired on Saturday leading to gas price hikes nationwide with the biggest hike seen in the capital, Seoul.
According to Korea National Oil Corporation, gas prices in Seoul stood at roughly one dollar and 30 cents per liter on Sunday, with the average gas price across the nation at a dollar and 20 cents.
The prices for diesel and LPG also rose slightly, with prices in Seoul hitting one dollar and twenty cents per liter for diesel and 70 cents for LPG.
The government cut fuel tax by fifteen percent from November to May, and again from May to August by a reduced margin, to help the public cope with the increase in global oil prices.
South Korea's temporary fuel tax cut period expired on Saturday leading to gas price hikes nationwide with the biggest hike seen in the capital, Seoul.
According to Korea National Oil Corporation, gas prices in Seoul stood at roughly one dollar and 30 cents per liter on Sunday, with the average gas price across the nation at a dollar and 20 cents.
The prices for diesel and LPG also rose slightly, with prices in Seoul hitting one dollar and twenty cents per liter for diesel and 70 cents for LPG.
The government cut fuel tax by fifteen percent from November to May, and again from May to August by a reduced margin, to help the public cope with the increase in global oil prices.