Gasoline Prices at Gas Stations Rise for 3 Consecutive Weeks... Nationwide Average 1,654.4 Won

[Asia Economy Reporter Hwang Yoon-joo] The average price of gasoline sold at gas stations nationwide has risen sharply, marking an increase for the third consecutive week.

According to Opinet, the oil price information service of the Korea National Oil Corporation, the gasoline selling price in the first week of October recorded 1,654.4 KRW per liter, up 8.7 KRW from the previous week.

By region, the highest gasoline price was in Seoul, which rose 11.1 KRW to 1,741.8 KRW per liter compared to last week. The lowest price region, Daegu, saw its gasoline price increase by 7.8 KRW to 1,627.0 KRW per liter.

By brand, the average gasoline price at Altteul gas stations was the lowest at 1,627.6 KRW per liter. The most expensive was SK Energy gas stations, with gasoline priced at 1,661.6 KRW per liter.

International oil prices are also on the rise.

The average price of Dubai crude oil, the benchmark for crude oil imported into Korea, rose by 2.5 dollars per barrel to 78.7 dollars compared to the previous week. The international gasoline price increased by 3.3 dollars to 89.5 dollars per barrel.

The Korea National Oil Corporation explained, "This week, international oil prices are rising due to factors such as improvements in the US labor market, OPEC+ maintaining its production increase scale, continued strength in gas prices, and delays in the Iran nuclear negotiations."