Gas price to reach new high in S. Korea

The average price of gas in Seoul is on the cusp of reaching a new high as it continues to rise. According to the Korea National Oil Corporation''s Web site on Tuesday, the average price of unleaded regular gas in the Seoul region on Monday afternoon stood at two-thousand-26-point-67 won per liter. That''s just one-point-12 won less than the record two-thousand-27-point-79 won per liter price posted on July 13, 2008. Gas prices in Seoul are expected to break that record in several days as oil refiners are planning to raise prices at the pump by 20 to 40 won per liter this week, KBS World reported Tuesday. Refiners raised supply prices by 45 won per liter in the second week of this month.