Gasoline Prices Rise for 5 Consecutive Weeks... 1,554.1 Won per Liter

[Asia Economy Reporter Joo Sang-don] Gasoline prices have risen for five consecutive weeks.

According to the Korea National Oil Corporation on the 6th, the retail price of gasoline at gas stations in the first week of June recorded 1,554.1 KRW per liter, up 6.7 KRW from the previous week.

The average price at budget gas stations was the lowest at 1,527.7 KRW per liter, while GS Caltex gas stations recorded the highest price at 1,561.6 KRW per liter.

The highest-priced region, Seoul, saw gasoline prices rise by 6.6 KRW from the previous week to 1,637.3 KRW per liter, which is 83.2 KRW higher than the national average price. The lowest-priced region, Daegu, recorded a gasoline price of 1,522.4 KRW per liter, up 6.0 KRW from the previous week, which is 31.8 KRW lower than the national average price.

Diesel retail prices rose by 6.6 KRW from the previous week to 1,351 KRW per liter.

International oil prices are on the rise due to improvements in major countries' manufacturing indicators, the OPEC Plus (OPEC+) coalition of OPEC and non-OPEC major oil-producing countries maintaining plans to ease production cut scales, and improved mobility indicators mainly in the US and Europe. Dubai crude oil rose by 2.2 dollars per barrel from the previous week to 69.1 dollars per barrel last week.