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Despite tax cut, LPG price in S. Korea has risen by most since 2014 Updated: 2021-12-06 09:04:35 KST

The price of LPG as a fuel for vehicles, heating and cooking has risen by the most since 2014 in South Korea despite tax cuts to bring prices down.
According to Yonhap News, citing industry sources, the price of liquefied petroleum gas in May 2020 was a little under 700 won a kilogram about 60 U.S. cents.
But this month it's double that at around one-dollar-20.
The government cut taxes on LPG by around 6 cents in November, but that has since been wiped out by another price increase of about 7-and-a-half cents.
Rising in line with global oil prices, LPG is expected to be a burden for consumers in the winter, when demand is high, but the price is expected to ease somewhat in January.
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