Gasoline prices in South Korea have experienced a decrease for the past two weeks; however, the trend seems to be reversing as international oil prices begin to rise again. According to the Korea National Oil Corporation’s Oil Price Information Service (Opinet), the average selling price for gasoline in the third week of October decreased by 13.3 won per liter compared to the previous week, reaching 1,775.0 won per liter.
In Seoul, the most expensive region in the country, the average price of gasoline fell by 14.0 won to reach 1,853.2 won per liter. On the other hand, Daegu, the region with the lowest prices, saw a decrease of 23.2 won, bringing the average price to 1,719.3 won per liter. Among gas station brands, SK Energy had the highest price with an average of 1,781.7 won per liter, while economical gas stations offered the lowest price at 1,747.7 won per liter.
Diesel prices also experienced a decrease of 7.0 won, reaching 1,689.3 won per liter. This decline comes after a 14-week period of rising prices due to international oil price hikes. However, last week marked the first decrease in prices as the rise in international oil prices began to slow down.
Looking at the international oil market, tensions in the Middle East, Iran’s demand to stop supplying oil to Israel, and the US Federal Reserve’s policy of further austerity measures have led to an increase in oil prices. The benchmark for imported crude oil prices, Dubai oil, saw a price increase of $3.4 per barrel, reaching $91.4. Similarly, international gasoline prices rose by $1.9 to $94.5, and international auto diesel prices increased by $2.9 to $119.5.
It is expected that these fluctuations in international oil prices will be reflected in domestic gas station prices in approximately two weeks.
Gasoline gained 13.3 per liter, diesel gained 7.0 ↓… International oil prices rising again
Gasoline and diesel prices at domestic gas stations have fallen for two consecutive weeks.
According to the Korea National Oil Corporation’s Oil Price Information Service (Opinet) on the 21st, the average selling price of gasoline at gas stations nationwide in the third week of October (15th to 19th) was 1,775.0 won per liter, down 13.3 won from’ the front. a week.
The average price of gasoline this week in Seoul, the most expensive region in Korea, fell 14.0 won to 1,853.2 won per liter, and in Daegu, the lowest price region, it fell 23.2 won to 1,719.3 won.
By brand, SK Energy gas stations had the highest price with an average of 1,781.7 won, and economical gas stations had the lowest price with 1,747.7 won.
The selling price of diesel 7.0 won fell to 1,689.3.
Gasoline and diesel prices, which had long risen due to the rise in international oil prices, fell last week for the first time in 14 weeks. As the rise in international oil prices slowed, domestic prices also took a breather.
This week, international oil prices rose due to Iran’s demand to stop supplying oil to Israel, higher tensions in the Middle East, and the US Federal Reserve (Fed) policy of further austerity measures.
The average price of Dubai oil this week, the benchmark for imported crude oil prices, was $91.4 a barrel, up $3.4 from the previous week.
The international gasoline price rose $1.9 to $94.5, and the international auto diesel price also increased $2.9 to $119.5.
The impact of international oil price fluctuations is usually reflected in domestic gas station prices after about two weeks.
Hello Te Reporter Kim Jin-hee |
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