Gasoline Prices at Gas Stations Drop for 10 Consecutive Weeks... Nationwide Average Gasoline Price 1,328 Won

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have fallen for 10 consecutive weeks.

According to Opinet, the oil price information service of the Korea National Oil Corporation, the nationwide gasoline retail price in the fourth week of October recorded 1,328.0 KRW per liter, down 3.4 KRW from the previous week.

Gasoline at SK Energy gas stations was the most expensive, averaging 1,336.6 KRW per liter, while gasoline at discount gas stations was the cheapest at 1,298.0 KRW per liter. By region, Seoul, the highest-priced area, recorded a gasoline price of 1,418.2 KRW per liter, the only region nationwide to exceed 1,400 KRW. The lowest-priced region, Daegu, saw gasoline prices drop to 1,292.1 KRW per liter.

Diesel prices at gas stations nationwide also fell by 3.5 KRW from the previous week, recording 1,128.4 KRW per liter.

International oil prices slightly declined, with Dubai crude falling $2.3 per barrel to $39.3. International gasoline prices also dropped by $2.2 per barrel from the previous week to $42.8. Since international oil prices are reflected domestically with a 2 to 3 week lag, domestic oil prices are expected to remain stable for the time being.

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