SEOUL, March 15 (Korea Bizwire) – Falling crude oil prices will likely boost petroleum and petrochemical products consumption in emerging economies that will benefit South Korea’s refiners, industry sources said Wednesday. Benchmark West Texas Intermediate (WTI) ended at US$49.28 per barrel as of March 9, industry data showed. It is the first time since November [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korean motorists pay much higher oil taxes than their counterparts in the United States and Japan, a report said Monday, sparking calls for the government to lower them. According to the report by online crude price provider Opinet, gasoline prices in South Korea averaged 1,455 won (US$1.28) per [...]
SEOUL, Dec. 2 (Korea Bizwire) – Global oil prices have rallied this week, and may settle above the US$50 level in the near future, a boon for Korean shipbuilders still struggling with falling new orders, industry sources said Friday. Oil prices continued to rise on Thursday extending their rally to a second consecutive day after [...]