Gasoline Prices at Gas Stations Drop for 15 Consecutive Weeks... 1100-Won Range Appears in Parts of Dobong, Seoul

On the 20th, as gasoline prices at gas stations nationwide decline due to the spread of COVID-19 and the drop in international oil prices, a citizen is refueling at a gas station in Goyang-si, Gyeonggi Province. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Hwang Yoon-joo] The average price of gasoline sold at gas stations nationwide has fallen for 15 consecutive weeks, reaching the 1,250 KRW per liter range.

According to Opinet, the oil price information service of the Korea National Oil Corporation, the nationwide gasoline sales price at gas stations in the first week of May was 1,257.6 KRW per liter, down 16.8 KRW from the previous week.

By region, only Seoul, the highest-priced area, recorded a gasoline price of 1,349.7 KRW, while all other regions were in the 1,200 KRW range. However, in some areas such as Dobong-gu, Yangcheon-gu, Gangseo-gu, Seongbuk-gu, and Gangbuk-gu in Seoul, the number of gas stations with gasoline prices dropping to the 1,100 KRW range is increasing.

As of the 8th, the lowest gasoline price in Seoul was 1,163 KRW at the Hyundai Oilbank Dobong Jeil Gas Station located in Dobong-gu. The lowest price nationwide was in Daegu, where the gasoline price fell 13.0 KRW from the previous week to 1,211.6 KRW.

By brand, SK Energy gasoline was the most expensive at 1,269.8 KRW, while budget gas stations offered the cheapest gasoline at 1,231.2 KRW.

Diesel prices recorded 1,068.9 KRW, down 16.8 KRW from the previous week.

The Korea National Oil Corporation explained, "International oil prices rose due to expectations of reduced crude oil exports from Saudi Arabia in May and demand recovery prospects following the reopening of major economies."

This content was produced with the assistance of AI translation services.