Gasoline Prices at Gas Stations Rise for 18 Consecutive Weeks... Nationwide Average 1,530.0 Won

According to Opinet, the oil price information service of Korea National Oil Corporation, the average retail price of gasoline nationwide in the third week of March was 1,517.4 KRW per liter, up 18.8 KRW from the previous week. This is the first time in a year since the second week of March last year that the weekly average gasoline price has exceeded 1,500 KRW. A gas station in downtown Seoul on the 21st. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have recorded an 18th consecutive week of increases.

According to Opinet, the oil price information service of the Korea National Oil Corporation, the average gasoline retail price at gas stations nationwide for the fourth week of March (3.22?25) was 1,530.0 KRW per liter, up 12.6 KRW from the previous week.

Domestic gasoline prices have been rising continuously since the end of November last year. Recent weekly increases were 9.7 KRW, 15.6 KRW, 18.4 KRW, and 12.6 KRW, respectively.

The average gasoline retail price in Seoul, the region with the highest price nationwide, rose 12.1 KRW to 1,614.7 KRW per liter compared to the previous week, while Daegu, the region with the lowest price, recorded a price of 1,506.8 KRW per liter, up 13.3 KRW.

By brand, GS Caltex gasoline was the most expensive at 1,538.0 KRW per liter, and Altteul gas stations offered the cheapest gasoline at 1,502.1 KRW per liter.

The nationwide diesel retail price at gas stations also rose 12.2 KRW from the previous week to 1,329.0 KRW per liter.

International oil prices showed a downward trend this week. The average price of Dubai crude, the benchmark for crude oil imported into Korea, was $62.4 per barrel, down $3.4 from the previous week.

The Korea National Oil Corporation analyzed, "International oil prices are declining due to escalating US-China tensions, a strong dollar index, and strengthened movement restrictions in Europe due to new COVID-19 cases."

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