Cold weather drives up fuel consumption 5.7% in South Korea

Unseasonably cold weather and economic growth helped push up South Korea’s fuel consumption by 5.7% year-on-year in January. According to a report by the Ministry of Knowledge Economy, total consumption of gasoline, diesel fuel, kerosene and Bunker-C oil in January reached 2.36 million barrels per day. Exports were also up for refined petroleum products, reaching US$3.3 billion or 32 million barrels. Imports of crude oil reached 83.4 million barrels worth US$7.6 billion in the same time period. (March 7, 2011)