Gasoline Prices Rise for 17 Consecutive Weeks... 1,517.4 Won per Liter
[Sejong=Asia Economy Reporter Joo Sang-don] Gasoline prices at gas stations have risen for 17 consecutive weeks.
According to the Korea National Oil Corporation on the 20th, the retail gasoline price at gas stations in the third week of March recorded 1,517.4 KRW per liter, up 18.8 KRW from the previous week.
Among gasoline prices, the average price at discount gas stations was the lowest at 1,488.4 KRW per liter, while SK Energy gas stations recorded the highest at 1,525.0 KRW. For diesel, the average price at discount gas stations was also the lowest at 1,285.9 KRW, and SK Energy gas stations had the highest price at 1,324.8 KRW.
The highest-priced region, Seoul, saw gasoline prices rise 16.7 KRW from the previous week to 1,602.6 KRW, which is 85.2 KRW higher than the national average price. The lowest-priced region, Daegu, recorded a gasoline price of 1,493.5 KRW, up 22.4 KRW from the previous week, which is 23.8 KRW lower than the national average.
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This week, international crude oil prices are steady due to a combination of upward factors such as the US's continued commitment to economic stimulus, increased refining throughput in China, and uranium enrichment in Iran, and downward factors including a strong dollar index and increased US petroleum product inventories due to refinery restarts.
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