Gasoline Prices Rise for 8 Consecutive Weeks... 1,587.5 Won per Liter
[Asia Economy Reporter Jusangdon Joo] Gasoline prices have risen for eight consecutive weeks.
According to the Korea National Oil Corporation on the 27th, the retail price of gasoline at gas stations in the fourth week of June recorded 1,587.5 KRW per liter, up 11.2 KRW from the previous week.
The average price at budget gas stations was the lowest at 1,554.7 KRW per liter, while SK Energy gas stations recorded the highest price at 1,595.8 KRW per liter.
The highest-priced region, Seoul, saw gasoline prices rise 12.1 KRW from the previous week to 1,671.4 KRW per liter, which is 84 KRW higher than the national average price. The lowest-priced region, Daegu, recorded a gasoline price of 1,563.0 KRW per liter, up 13.5 KRW from the previous week, which is 24.5 KRW lower than the national average price.
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International oil prices are on the rise due to eased concerns over US interest rate hikes, the agreement on US President Joe Biden's infrastructure investment bill, and a decrease in US crude oil inventories. In the fourth week of June, Dubai crude oil was priced at 72.9 dollars per barrel, up 0.9 dollars from the previous week.
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