Gas Prices Hit Five-Year Low

      December 30, 2014 10:02

      The average price of gas has dropped below W1,600 per liter for the first time in more than five years (US$1=W1,098).

      The exact average stood at W1,599.06 per liter as of 3 p.m. on Monday, according to Korea National Oil Corporation.

      After peaking at W2,062.6 per liter on April 18, 2012, prices have steadily dropped to below W1,900. They recently fell dramatically as OPEC decided not to reduce oil production despite falling prices.

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