Simultaneous LPG price hikes

Starting Feb. 1, liquefied petroleum gas (LPG) prices will increase across the board.

According to business circles, SK Gas and LG Caltex Oil have decided to increase LPG prices by 29.8 won and 29.76 won per kilogram respectively. As a result, the LPS price of SK will increase from 693.7 won to 723.5 won, and that of LG Caltex from 693.72 won to 723.48 won.

Other companies such as Hyundai Oil Refinery and S-Oil are likely to increase to the same level.

¡°The rise of the exchange rate triggers the LPG price hike,¡± an industry observer said.