Weekly Average Gasoline Price Tops 1,500 Won

Write : 2019-05-18 13:20:56 Update : 2019-05-18 13:24:45

Weekly Average Gasoline Price Tops 1,500 Won

The weekly nationwide average gasoline price has surpassed 15-hundred won for the first time in five months as the government begins to phase out its fuel tax cut.

According to Opinet, a Web site on oil price information run by the Korea National Oil Corporation, the average price of regular gasoline sold at filling stations nationwide rose an average 29-point-two won per liter to one-thousand-525-point-five won in the third week of  May.

It's the first time since late November last year that the weekly figure has risen above 15-hundred. 

Gasoline prices have been on a sharp rise since fuel tax cuts were lowered from 15 to seven percent on May seventh.

The tax relief was instituted in November as a temporary measure to help ease the public burden of rising oil costs.

[Photo : YONHAP News]

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