Hyundai to Cut Gasoline Price

By Park Sae-jin Posted : April 6, 2011, 12:26 Updated : April 6, 2011, 12:26
Hyundai Oilbank Co. will lower the price of its gasoline and diesel by 100 won this week in tandem with the government’s effort to cut prices, Yonhap news reported.

The government trying to recuperate from last month’s 4.7 percent inflation hike has been pressuring oil companies to cut prices, blaming the rising costs of fuel and transportation as one of the main reasons for the recent price hike, the news added.

Three of the country’s four refiners, including SK Innovation Co. have cut their prices despite international prices of crude still remain around record high.


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