Gasoline Price at Gas Stations Surpasses 1,600 Won... 9 Consecutive Weeks of Increase

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 Moon Honam munonam@

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have risen for nine consecutive weeks, surpassing 1,600 won per liter.

According to the Korea National Oil Corporation's oil price information service Opinet on the 3rd, the average gasoline selling price at gas stations nationwide during the fifth week of June (6.28?7.2) recorded 1,600.9 won per liter, up 13.5 won from the previous week.

By region, Seoul, the area with the highest price, rose 12.1 won from the previous week to 1,683.5 won per liter. Daegu, the area with the lowest price, was 1,578.4 won per liter, 15.4 won lower than the national average.

By brand, SK Energy gas stations were the most expensive at 1,609 won per liter, while Altteul gas stations were the cheapest at 1,568.3 won per liter.

The nationwide diesel selling price at gas stations also rose 13.4 won from the previous week to 1,398.1 won per liter.

The Korea National Oil Corporation analyzed, "International oil prices are on the rise influenced by positive U.S. economic indicators and a decrease in U.S. crude oil inventories."

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