◆Gasoline is 1.8 times more expensive than it is in Japan.
An ASIAPRESS investigation reveals that the price of fuel in North Korea has been sharply rising since the beginning of this year. (Kang Ji-won)
A reporting partner conducted the investigation across three locations in North Hamgyong and Yangang Provinces, from January 4 to 6.
According to our reporting partner, the cost of gasoline and diesel (1kg/KPW) is KPW 26,000 (KRW 3,200) and KPW 17,000 (KRW 1,500), the highest its been since the start of the economic sanctions on North Korea, in 2016. Gasoline, if converted to a liter system, has become 1.8 times more expensive than it is in Japan. The reporting partner told us, “There’s a rumor that the fuel will continue to rise.”
Sanctions resolution No. 2397 of UN Security Council set the export cap for refined oil products to North Korea at 500,000 barrels, on December 24, 2017. The cap meant a 90% decrease from that of 2016. However, it is becoming clear that illegal traders have filled the gap created by the international sanctions by cornering the market on fuel.