Gasoline Prices at Gas Stations Rise for 14 Consecutive Weeks... Nationwide Average 1,645.1 Won

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have risen for 14 consecutive weeks.

According to the Korea National Oil Corporation's oil price information service Opinet on the 7th, the gasoline retail price at gas stations in the first week of August recorded 1,645.1 KRW per liter, up 4.1 KRW from the previous week.

By region, Seoul, the highest-priced area, saw an increase of 4.5 KRW to 1,729.3 KRW per liter compared to the previous week. Daegu, the lowest-priced area, recorded 1,623.5 KRW per liter, up 3.7 KRW.

By brand, GS Caltex gasoline was the most expensive at 1,652.9 KRW per liter, while Altteul gas stations were the cheapest at 1,620.9 KRW per liter.

The nationwide diesel retail price also rose by 3.6 KRW from the previous week to 1,440.4 KRW per liter.

International oil prices, which had turned to zero growth last week, declined again. The average price of Dubai crude oil, the benchmark for oil imported into Korea, dropped $1.7 to $71.3 per barrel. International gasoline prices fell $1.9 to $81.8 per barrel.

The Korea National Oil Corporation stated, "This week, international oil prices are declining due to the continued spread of the Delta variant, an increase in U.S. crude oil inventories, and a slowdown in manufacturing indicators."

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