Gasoline Prices at Gas Stations Rise for the First Time in 5 Weeks... National Average at 1,642.6 Won

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations have slightly increased for the first time in five weeks.

According to the Korea National Oil Corporation's oil price information service Opinet on the 25th, the nationwide gasoline price at gas stations in the fourth week of September recorded 1,642.6 KRW per liter, up 0.8 KRW from the previous week.

By region, Seoul, which had the highest price, saw gasoline prices rise by 0.1 KRW to 1,724.0 KRW per liter compared to the previous week. The lowest price region, Daegu, recorded a gasoline price of 1,617.2 KRW per liter.

By brand, the average gasoline price at Altteul gas stations was the lowest at 1,617.9 KRW per liter, while GS Caltex gas stations had the highest price at 1,650.2 KRW per liter.

The average diesel selling price also rose by 0.7 KRW from the previous week to 1,436.9 KRW per liter.

The Korea National Oil Corporation stated, "The increase is due to factors such as the Federal Open Market Committee (FOMC) signaling imminent tapering, a decrease in U.S. crude oil inventories, expectations of increased demand for heating oil, and ongoing delays in the Iran nuclear negotiations."