Last Week Gasoline Price 1,644.8 Won per Liter... Falling for 2 Consecutive Weeks

Weekly Domestic Oil Price Trends for the 4th Week of August

[Asia Economy Reporter Joo Sang-don] The retail gasoline price at domestic gas stations showed a decline for the second consecutive week.

According to the Korea National Oil Corporation on the 29th, the retail gasoline price at gas stations for the 4th week of August fell by 2.2 KRW from the previous week to 1,644.8 KRW per liter, marking a decline for two consecutive weeks.

The average price at budget gas stations was the lowest at 1,621.2 KRW per liter, while GS Caltex gas stations recorded the highest price at 1,652.7 KRW per liter.

The highest-priced region, Seoul, saw gasoline prices drop by 1.6 KRW from the previous week to 1,728.4 KRW per liter, which was 83.6 KRW higher than the national average price. The lowest-priced region, Daegu, recorded a gasoline price of 1,621.1 KRW per liter, down 2.7 KRW from the previous week, which was 23.7 KRW lower than the national average price.

Diesel retail prices fell by 2.3 KRW from the previous week to 1,439.3 KRW per liter.

This week, international oil prices are on the rise due to expectations of expanded COVID-19 vaccinations, production disruptions at Mexican oil facilities, and a decrease in U.S. crude oil inventories. Last week, Dubai crude oil rose by 1.3 USD per barrel to 68.7 USD per barrel compared to the previous week.

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