Ahead of the fuel tax cut, domestic gasoline prices rose by more than 30 won per liter. In some areas, such as Seoul and Jeju, the price exceeded 1800 won.
According to Korea National Oil Corporation’s oil price information service Opinet on the 30th, the national average selling price of gasoline at gas stations in the fourth week of October was 1762.8 won per liter, up 30.3 won from the previous week.
By region, the price of gasoline in Seoul rose 32.2 won from the previous week, recording the highest price at 1840.8 won per liter, while Busan recorded the lowest price at 1741.5 won per liter.
The price of gasoline in Gyeonggi region was 1,773 won per liter, which was higher than the national average, and increased by more than 30 won from the previous week (1741 won per liter).
By brand, thrifty gas station was the cheapest at 1,731.0 won per liter. The gas station with the highest price was GS Caltex, which recorded 1771.2 won per liter.
During the same period, the average selling price of diesel at domestic gas stations rose 30.5 won from the previous week to 1560.9 won per liter.
In addition to gas station selling prices, refinery supply prices also rose vertically. Gasoline supply price was recorded at 1709.9 won per liter, up 25.4 won from the previous week, and diesel supply price was 1513.5 won per liter, up 23.7 won from the previous week.
In response to the recent surge in oil prices, the government announced that it would temporarily lower the fuel tax on gasoline, diesel and LPG butane by 20% from the 12th of next month to the 30th of April next year.
Through this fuel tax cut, gasoline prices are expected to drop by 164 won per liter, diesel 116 won and LPG butane by 40 won.
However, it is expected that it will take some time for consumers to actually feel it. It usually takes about two weeks for petroleum products to be distributed to gas stations, and the fuel tax cut is reflected in the price only after the gas stations run out of stock.
The Korea Petroleum Association said, “We will cooperate as much as possible so that the effect of the fuel tax cut can be realized quickly, and we will do everything we can to ensure that there are no problems in domestic supply and demand through efficient inventory management.”
[ 경기신문 = 편지수 기자 ]
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