The Korea Herald


Korea to raise natural gas price by 6%

By 박윤아

Published : Oct. 28, 2016 - 10:34

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[THE INVESTOR] The natural gas price will rise an average 6.1 percent starting November, the government said on Oct. 28.

The price of gas for heating and cooking at households will be lifted by 5.6 percent, with that of natural gas consumed by the industrial sector to he hiked by 6.9 percent, according to the Ministry of Trade, Industry and Energy.

The ministry said it raised the gas rate for the first time in 14 months as crude oil prices rose 25 percent to US$45 per barrel form $36 over the period.

The rate hike will add an average 1,758 won ($1.53) more to the monthly bill of each household, added the ministry.