Gasoline Prices Rise for 4 Consecutive Weeks... Nationwide Average 1,329.9 Won

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have risen for four consecutive weeks.

According to the Korea National Oil Corporation's oil price information service Opinet on the 20th, the weekly gasoline retail price at gas stations nationwide in the third week of this month was 1,329.9 won, up 24.3 won from the previous week.

Domestic gasoline prices had been falling for more than four months since January due to the impact of COVID-19 and the plunge in international oil prices, but have been on the rise since the fourth week of May as international oil prices increased.

The gasoline price in Daegu, the region with the lowest price, also rose to 1,303.1 won this week. By brand, the most expensive gasoline was SK Energy at 1,340.2 won, and the cheapest was at Altteul Gas Station at 1,287.4 won.

The nationwide diesel retail price also rose by 22.7 won from last week, reaching 1,134.3 won.

The Korea National Oil Corporation explained, "International oil prices slightly declined due to mixed factors, including an increase in U.S. crude oil inventories as a downward factor and expectations of reduced supply from Saudi Arabia and Iraq as upward factors."

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