Gasoline Prices Stop Falling... Rise Reverses in Seoul, Daegu, and Others

Gasoline prices at gas stations nationwide have been declining for 16 consecutive weeks. On the 17th, gasoline was sold at 1,197 won and diesel at 997 won at a gas station near Susaek Station in Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have fallen for 17 consecutive weeks, but the decline was in the 0 won range, virtually the same as last week. However, prices rose in some areas such as Seoul. As international oil prices recover, they are expected to rise again.

According to Opinet, the oil price information service of the Korea National Oil Corporation, the weekly gasoline price at gas stations nationwide in the third week of this month was 1,248.9 won per liter, down 0.4 won from the previous week.

In Seoul, the most expensive region nationwide, prices rebounded this week. Gasoline prices in Seoul rose 0.3 won from the previous week to 1,341.9 won. In Daegu, the region with the lowest prices, gasoline prices also rose 2.3 won from the previous week to 1,209.1 won.

By brand, SK Energy gasoline was the most expensive at 1,261.1 won, while Alttul Gas Station gasoline was the lowest at 1,214.1 won.

Diesel prices at gas stations nationwide also remained steady. Diesel prices fell 0.5 won from the previous week to 1,060.0 won.

Meanwhile, international oil prices continued to rise, recovering the $30 mark. The price of Dubai crude oil, which serves as the benchmark for crude oil imported into Korea, recorded $33.3 per barrel, up $4.8 from the previous week.