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S. Korea's Consumption of Gasoline, Diesel Jump 43% in May

Written: 2022-06-24 19:10:32Updated: 2022-06-24 19:15:18

S. Korea's Consumption of Gasoline, Diesel Jump 43% in May

Photo : YONHAP News

The country's consumption of gasoline and diesel soared by over 40 percent in May from the previous month. 

According to the Petronet, an online petroleum information provider run by the Korea National Oil Corporation, on Friday, the country consumed a combined 24-point-82 million barrels of gas and diesel in May, up 43 percent from a month earlier. 

Earlier this year, domestic consumption of the mostly imported fuel was on a steady decline from some 22 million barrels in January to 17-point-three million barrels in April, as global oil prices surged after Russia's invasion of Ukraine. 

However, the recent rebound in the consumption is attributed to pent-up demand as well as the government's measures to cut fuel taxes. 

Meanwhile, consumption of jet fuel spiked by 33-point-five percent on-month to two million barrels in May, amid an increase in overseas travelers.

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