Koreas largest crude oil refiner SK Energy is likely to gradually increase its price of gasoline and diesel for automobiles in early July to reflect market competition, a company spokesman said on Thursday.
The countrys second-largest refiner GS Caltex said earlier on Thursday that it will increase auto fuel prices step by step after its three-month price cut expires in early July.
S-Oil may follow, according to an S-Oil spokesman, while SK Energy and Hyundai Oilbank spokesmen at that time said nothing had been decided yet over fuel prices.
The four South Korean refiners have been widely expected to restore fuel prices in a one-time increase after cutting them in April by 100 Korean won ($0.093) per litre, a measure which expires on July 6. (Reporting by Cho Mee-young; Editing by Michael Urquhart)
source: apec-vc
