Gasoline Prices at Gas Stations Fall for 4 Consecutive Weeks... Nationwide Average 1,642.2 Won

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] The national average gasoline price has been declining for four consecutive weeks.

According to Opinet, the oil price information service of the Korea National Oil Corporation, the gasoline retail price in the second week of September recorded 1,642.2 KRW per liter, down 1.1 KRW from the previous week.

Diesel retail price fell by 1.2 KRW to 1,436.7 KRW per liter. By region, the highest gasoline price was in Seoul, which rose 1.7 KRW from the previous week to 1,725.6 KRW per liter. This is 83.4 KRW higher than the national average price. The lowest gasoline price was in Daegu, at 1,618.3 KRW per liter, down 1.4 KRW from the previous week, 23.9 KRW lower than the national average.

By brand, the average gasoline price at Altteul gas stations was the lowest at 1,617.8 KRW per liter. The most expensive was GS Caltex gas stations, with gasoline priced at 1,650.2 KRW per liter. For diesel, Altteul gas stations had the lowest price at 1,411.1 KRW per liter, while GS Caltex gas stations had the highest at 1,445.7 KRW.

International oil prices also declined slightly.

The average price of Dubai crude oil, the benchmark for crude oil imported into Korea, was $70.2 per barrel, down $0.6 from the previous week. International gasoline prices rose by $0.6 to $79.6 per barrel compared to the previous week. International automotive diesel prices increased by $0.6 to $79.8 per barrel.

The Korea National Oil Corporation explained, "International oil prices recorded a slight decline due to factors such as the European Central Bank's easing of bond purchase pace and concerns over weakening oil demand in the Asian region."

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