By Seo Jee-yeon
Staff Reporter


Gasoline consumption plummeted 10.1 percent to 56.8 million barrels in July from the same month last year, affected by soaring international oil prices, according to a report by the Ministry of Commerce, Industry and Energy (MOCIE) Monday.

``It is the second time to see a minus growth in gasoline consumption since last January, when year-on-year growth fell 1 percent,’’ the report said.

``Although the number of new cars on the road last month rose 36.6 percent to 48,336 units compared to the same period in 2004, gas consumption dropped due to rising gas prices.’’

Gasoline prices on average jumped to 1,438 won per liter last month, up from 1,364 won per linter in July 2004.

Record-high international oil prices, however, have little impact on Korea’s premium oil consumption.

``Premium gasoline consumption is expected to rise 54.1 percent this month, according to the Korea Automobile Manufacturers Association,’’ the report said.

The biggest consumer group of premium gas is made up of owners of foreign cars, which continue to enhance their domain here.

In the first half of this year, the number of newly registered foreign cars reached 12,930 units, a 21.3 percent increase from the same period last year.

Despite the fall in gasoline consumption, total petroleum consumption edged up 1.1 percent to 56.8 million barrels last month thanks to the growing demand for petroleum products such as liquefied petroleum gas, the report said.

Among other petroleum products, diesel consumption fell 3.3 percent last month due to the hike of its prices by 2.3 percent and the falling popularity of diesel-powered sport utility vehicles.

Airline oil consumption also decreased 18.4 percent in July, mainly because of the protracted strike of Asiana Airlines pilots.

jyseo@koreatimes.co.kr