Gasoline Prices at Gas Stations Stable for 4 Consecutive Weeks... Nationwide Average 1534.3 Won

According to Opinet, the oil price information service of Korea National Oil Corporation, the average gasoline price at gas stations nationwide in the third week of March was 1,517.4 KRW per liter, up 18.8 KRW from the previous week. This is the first time in a year since the second week of March last year that the weekly average gasoline price has exceeded 1,500 KRW. A gas station in Seoul on the 21st.
Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Hwang Yoon-joo] The nationwide gasoline prices at gas stations showed a slight increase this week, maintaining a steady trend for four consecutive weeks.

According to the Korea National Oil Corporation's oil price information service Opinet on the 8th, the average gasoline selling price at gas stations nationwide during the first week of May (May 3?6) was 1,534.3 KRW per liter, up 0.3 KRW from the previous week.

By region, Jeju recorded the highest price at 1,619.2 KRW per liter, which is 85.0 KRW higher than the national average. Daegu, the region with the lowest price, was 1,510.0 KRW per liter, 24.3 KRW cheaper than the national average.

By brand, SK Energy was the most expensive at 1,541.1 KRW per liter, while Altteul Gas Stations were the cheapest at 1,508.7 KRW per liter.

The nationwide diesel selling price at gas stations rose by 0.2 KRW to 1,332.2 KRW per liter.

International oil prices continued to rise this week following last week. The average price of Dubai crude oil, which serves as the benchmark for crude oil imported into Korea, increased by 2.4 dollars from the previous week to 66.3 dollars.

The Korea National Oil Corporation analyzed, "The rise was influenced by improvements in U.S. employment indicators, expectations of increased oil demand from the U.S. and China, and a decrease in U.S. crude oil inventories."