Oil prices in North Korea are reportedly on the rise following the UN’s recent adoption of tougher sanctions on the reclusive state.

A Unification Ministry official in Seoul told reporters Tuesday that oil prices have been increasing in the North since UN Resolution 2375 was adopted by the UN Security Council(UNSC), adding the surge began mid-August.

And compared to the beginning of the year, the official explained the price of gasoline is now three times higher.

The price of North Korea's staple food rice, and its foreign exchange rate remain stable, but the impacts of the international sanctions on its trade, general consumer prices and livelihood could manifest later.

Adopted on September eleventh, the latest UN resolution enforces sanctions such as cutting the supply of crude oil for the North by 30 percent, and a ban on the import of North Korean textiles. 

The official estimated the latest UN sanctions combined with existing measures will be able to cut the North’s exports by 90 percent.  

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