Gasoline and Diesel Prices Continue to Rise in South Korea

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According to the Korea National Oil Corporation Offinet oil price information system on the 27th, the average selling price of gasoline at gas stations nationwide in the fourth week of April (21st to 25th) was 1,708.4 won per liter, up 13.3 won from’ the previous week.

On a weekly basis, it has risen for five consecutive weeks since the upward turn in the fourth week of March.

By region, Seoul, with the highest price, rose 10.2 won from the previous week to 1,779.6 won, and Daegu, with the lowest price, rose 14.5 won to 1,679.8 won.

The lowest priced brand was Thrifty Gas Station, with an average price of 1,682.5 won per litre.

The average selling price of diesel rose by 4.4 won per liter to 1,566.7 won.

Diesel sales prices have risen for four consecutive weeks since the first week of April.

International oil prices fell this week on subdued concerns over an escalating war in the Middle East and the possibility of a delay in a key interest rate cut by the US Federal Reserve.

Dubai oil, the benchmark for imported crude oil prices, was $88.1 a barrel, down $0.9 from the previous week.

The international gasoline price fell $2.1 to $100.6, and the international auto diesel price fell $2.3 to $101.9.

Changes in international oil prices are usually reflected in domestic gas station prices after about two weeks.

An official from the Korea Petroleum Association predicted, “As international gasoline and diesel prices and the exchange rate fall together this week, domestic price increases will remain weak until next week and then turn to downward trend in the second week of May.”

curiad@yna.co.kr

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2024/04/27 06:00 Sent

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