Gasoline Prices Rise for 19 Consecutive Weeks... 1,533.9 Won per Liter

[Sejong=Asia Economy Reporter Joo Sang-don] Gasoline prices have risen for 19 consecutive weeks.

According to the Korea National Oil Corporation, the retail price of gasoline at gas stations in the 5th week of March increased by 3.9 KRW per liter from the previous week to 1,533.9 KRW. This marks the 19th consecutive week of increase.

By brand, the average price at Alttul gas stations was the lowest at 1,509.6 KRW per liter, while GS Caltex gas stations recorded the highest price at 1,541.4 KRW.

The highest-priced region, Jeju, saw gasoline prices rise by 19.6 KRW from the previous week to 1,622.9 KRW, which is 89.0 KRW higher than the national average price.

The lowest-priced region, Daegu, had gasoline prices increase by 4.0 KRW from the previous week to 1,510.8 KRW, which is 23.1 KRW lower than the national average price.

Diesel retail prices rose by 3.2 KRW from the previous week to 1,332.2 KRW. The average price at Alttul gas stations was the lowest at 1,300.0 KRW, while GS Caltex gas stations recorded the highest price at 1,341.2 KRW.

This week, international oil prices have been on the rise due to the announcement of the US infrastructure investment plan, the International Monetary Fund (IMF)'s upward revision of the global economic growth forecast, the resolution of market uncertainties following the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and the 'OPEC Plus' (OPEC+) coalition of major non-OPEC oil-producing countries including Russia, and the decrease in US crude oil inventories.

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