Domestic Gas Station Diesel Prices Drop to 1,300 Won per Liter for the First Time in 2 Years

The average diesel price at domestic gas stations has dropped to the 1,300 KRW per liter range for the first time in about two years.

According to the Korea National Oil Corporation's oil price information system, Opinet, on the afternoon of the 11th, the average diesel price nationwide was recorded at 1,398.91 KRW per liter, down 0.78 KRW from the previous day.

The average diesel price at gas stations falling to the 1,300 KRW per liter range is the first time since June 30, 2021 (1,399.91 KRW), about two years ago.

Due to the Ukraine war causing energy prices to soar, diesel prices rose to around 2,100 KRW last June. However, due to demand contraction amid the global economic recession, diesel prices have been declining for seven consecutive weeks recently.