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Fuel prices may not rise much

Posted August. 16, 2000 11:41,   


The Ministry of Commerce, Industry and Energy has decided to raise the prices of liquefied petroleum gas and light oil, which are being consumed by vehicles at lower-than-expected rates.

Ministry officials said that the MOCIE would adopt a lower price increase for LPG and light oil than was suggested by the Korea Energy Economics Institute in June. Prices will be finalized this month after a series of public hearings.

Initially, the recommendation of the institute called for adjusting the price ratios of gasoline, light oil and LPG to 100:70-80:55-65 from the ratio of 100:44:27 at the end of last year. But the ministry is considering a ratio of 100:55-65:40-50.

Park Won-Jae parkwj@donga.com