Gasoline Prices Fall for 8 Consecutive Weeks... Nationwide Average 1,334.6 Won

[Asia Economy Reporter Hwang Yoon-joo] Nationwide gasoline prices continued their stable trend, falling for the eighth consecutive week.

According to the Korea National Oil Corporation's oil price information service Opinet on the 17th, the nationwide gasoline retail price at gas stations in the second week of October was 1,334.6 KRW per liter, down 3.8 KRW from the previous week.

Gasoline at SK Energy gas stations was the most expensive at 1,342.7 KRW per liter, while gasoline at budget gas stations was the cheapest at 1,306.0 KRW per liter.

By region, Seoul, the area with the highest nationwide price, recorded gasoline prices at 1,427.9 KRW per liter, while Daegu, the lowest-priced region, had gasoline prices at 1,301.6 KRW per liter. Currently, Seoul is the only region nationwide where gasoline prices are in the 1,400 KRW per liter range.

Diesel prices also fell by 3.8 KRW from the previous week, recording 1,135.4 KRW per liter.

International oil prices remained steady. Dubai crude oil, the benchmark for oil imported into Korea, rose by 0.6 USD per barrel to 41.5 USD, while international gasoline prices fell by 1.1 USD per barrel to 45.2 USD.

The Korea National Oil Corporation explained, "The steady trend was recorded as the downward factors from difficulties in the US economic stimulus negotiations and OPEC's downward revision of oil demand forecasts were offset by upward factors such as the decrease in US crude oil inventories and the increase in China's crude oil imports."

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