Gasoline Prices Steady for 7 Consecutive Weeks... Nationwide Average 1,360.5 Won

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

According to the Korea National Oil Corporation's oil price information service, Opinet, the weekly gasoline retail price at gas stations nationwide in the first week of this month was 1,360.5 KRW per liter, down 0.6 KRW from the previous week. Since the third week of July, prices have fluctuated within 1 KRW for seven weeks, maintaining a stable trend.

The most expensive gasoline price was in Seoul, at 1,456.0 KRW per liter, down 1.3 KRW from the previous week, while the cheapest was in the Daegu region, at 1,332.3 KRW per liter, down 1.1 KRW from the previous week.

By brand, Altteul Gas Station's gasoline price was the cheapest at 1,329.4 KRW per liter, while SK Energy was the most expensive at 1,367.9 KRW.

Additionally, the nationwide diesel price at gas stations was recorded at 1,162.9 KRW per liter, down 0.7 KRW from the previous week.

International oil prices, which are usually reflected in domestic gas station prices with a 2 to 3-week lag, have also shown little change for two months. Dubai crude oil, the benchmark for crude oil imported into Korea, has remained in the $44 per barrel range since the second week of last month. The international gasoline price was $47.1 per barrel in the first week of this month, down $0.9 from the previous week.

The Korea National Oil Corporation explained, "International petroleum product prices have fallen due to decreased gasoline demand in the United States and news of increased crude oil production in August by the Organization of the Petroleum Exporting Countries (OPEC) and Russia."

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