This Week's Gasoline Price at 1,473.3 Won per Liter... 14 Consecutive Weeks of Increase

Weekly Price Trends of Domestic Petroleum Products

Domestic Sales Price Trends.

[Asia Economy Reporter Joo Sang-don] This week, the retail price of gasoline recorded 1,473.3 KRW per liter, marking the 14th consecutive week of increase.

According to the Korea National Oil Corporation on the 27th, the retail price of gasoline at gas stations in the fourth week of February rose by 10.2 KRW from the previous week to 1,473.3 KRW per liter, continuing the upward trend for 14 weeks straight.

The average price at budget gas stations was the lowest at 1,445.7 KRW, while GS Caltex gas stations recorded the highest price at 1,480.5 KRW.

The highest-priced region, Seoul, saw gasoline prices rise by 11.0 KRW from the previous week to 1,559.4 KRW, which is 86.1 KRW higher than the national average price. The lowest-priced region, Daegu, experienced a 7.3 KRW increase to 1,447.5 KRW, which is 25.9 KRW below the national average price.

This week, diesel retail prices rose by 10.0 KRW from the previous week to 1,273.3 KRW. The average price at budget gas stations was the lowest at 1,244.9 KRW, while GS Caltex gas stations recorded the highest price at 1,280.9 KRW per liter.

International oil prices are on the rise due to upward revisions of oil price forecasts for the third quarter of this year by investment banks such as Goldman Sachs and Morgan Stanley, as well as production disruptions in Texas caused by a cold wave in the United States and a decrease in crude oil production.