Gov't to raise price of natural gas by 6.1%

The price of natural gas will be raised an average 6.1 percent from next month to reflect a recent hike in import prices, the government said Friday.

The price of gas for heating and cooking at households will be lifted by 5.6 percent, with that of natural gas consumed by the industrial sector to be hiked by 6.9 percent, according to the Ministry of Trade, Industry and Energy.

The price increase will be effective on Nov. 1.

The ministry said it raised the gas rate for the first time in 14 months as crude oil prices rose 25 percent to $45 per barrel from $36 over the period.

The rate hike will add an average 1,758 won ($1.53) more to the monthly bill of each household, added the ministry. (Yonhap)