Gasoline Prices Rise for 6 Consecutive Weeks... Nationwide Average 1,355.4 Won

Due to the plunge in international oil prices caused by the spread of COVID-19, gasoline prices at gas stations nationwide have fallen for nine consecutive weeks. On the 29th, at a gas station in Seoul, gasoline was sold at 1,398 won per liter, and diesel at 1,198 won per liter. Photo by Hyunmin Kim kimhyun81@

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

According to the Korea National Oil Corporation's oil price information service Opinet on the 4th, the weekly gasoline retail price at gas stations nationwide in the first week of this month increased by 9.1 KRW per liter from the previous week to 1,355.4 KRW.

The gasoline price at gas stations in Seoul, where fuel is the most expensive, recorded 1,448.3 KRW, up 8.8 KRW from the previous week. The gasoline price in Daegu was the cheapest at 1,333.3 KRW.

By brand, the gasoline price at Altteul gas stations was the lowest at 1,318.2 KRW, while SK Energy was the highest at 1,363.9 KRW.

The nationwide diesel retail price also rose by 8.7 KRW from the previous week to 1,158.4 KRW. Altteul gas stations were at 1,122.9 KRW, and SK Energy was at 1,167.2 KRW.

The Korea National Oil Corporation explained, "International crude oil and product prices, which had been on the rise, are slightly declining due to the ongoing US-China trade conflict and the possibility of easing production cuts after August."

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