Gasoline Prices Rise at Gas Stations... Nationwide Average 1,542.6 Won

According to Opinet, the oil price information service of Korea National Oil Corporation, the average gasoline selling price at gas stations 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 risen slightly again this week following last week.

According to the Korea National Oil Corporation's oil price information service Opinet on the 22nd, the average gasoline selling price at gas stations nationwide in the third week of May (5.17?20) recorded 1,542.6 KRW per liter, up 5.6 KRW from the previous week.

By region, the highest price area, Seoul, had a gasoline price of 1,626.0 KRW per liter, which was 83.4 KRW higher than the national average. The lowest price area, Daegu, had a gasoline price of 1,513.7 KRW per liter, which was 28.9 KRW lower than the national average.

By brand, GS Caltex gasoline was the most expensive at 1,555 KRW per liter, while Altteul gas stations were the cheapest at 1,516.4 KRW per liter.

The nationwide diesel selling price at gas stations also rose by 5.1 KRW from the previous week to 1,339.7 KRW per liter.

International oil prices rose slightly amid expectations of a global economic recovery. The average price of Dubai crude oil, which serves as the benchmark for crude oil imported into Korea, was $66.7 per barrel, up $0.7 from the previous week. International gasoline prices rose by $0.1 to $74.1 per barrel, and international automotive diesel rose by $1.1 to $74.7 per barrel.

The Korea National Oil Corporation explained, "This week's international oil prices rose slightly due to positive factors such as strong U.S. employment indicators, expanded COVID-19 vaccinations in Europe, and increased U.S. air travel demand."

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