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.
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.
