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INTERNATIONAL > East Asia & Pacific

Sudden dive in gasoline prices reported in North Korea

By Yoshihiro Makino in Seoul

 

Gasoline prices, which were skyrocketing in North Korea, have dropped suddenly since the beginning of this week. This could be due to smuggling from Russia and China or the DPRK authorities releasing its reserves. The reason remains unknown.

 

Gasoline prices in North Korea this week are reported to be between 9,000 won (approximately 127 yen at the market rate) and 15,000 won (approximately 148 yen) per liter. The ROK Unification Ministry points out that gasoline prices rose in August to three times from 6,000 won per liter in early 2017.

 

Another North Korean source said that supply of gasoline at gasoline stations to cars other than those owned by senior cadres of the Workers’ Party of Korea, the DPRK government, and the Korean People’s Army has stopped since September.

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