SEOUL: South Korea’s energy ministry said on Friday that it will raise retail prices of natural gas for households and businesses on September 1 by 4.4 percent on average.
The move reflects depreciation of the won and rising oil prices in May, said the ministry, which reviews raw material costs every two months.
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Seoul imported 37.14 million tonnes of LNG equivalent in 2014, down nearly 7 percent from a year ago, as its overall gas consumption dropped due to rising power supply from nuclear plants and slow economic growth.
