Gasoline Prices Rising Again... 1,644.5 Won Per Liter

Weekly Price Trends of Domestic Petroleum Products

[Asia Economy Reporter Joo Sang-don] Gasoline prices have started to rise again. They have increased for two consecutive weeks, reaching 1,644.5 KRW per liter.

According to the Korea National Oil Corporation on the 2nd, the retail price of gasoline at gas stations in the 5th week of September rose by 1.9 KRW from the previous week to 1,644.5 KRW/ℓ, marking a two-week consecutive increase.

The average price at budget gas stations was the lowest at 1,619.5 KRW/ℓ, while GS Caltex gas stations recorded the highest price at 1,651.6 KRW/ℓ.

The highest-priced region, Seoul, saw gasoline prices rise by 4.7 KRW from the previous week to 1,728.7 KRW/ℓ, which is 84.2 KRW higher than the national average price. The lowest-priced region, Daegu, recorded a gasoline price increase of 1.1 KRW from the previous week to 1,618.3 KRW/ℓ, which is 26.2 KRW lower than the national average price.

Diesel retail prices rose by 2.3 KRW from the previous week to 1,439.2 KRW/ℓ.

An official from the Korea National Oil Corporation stated, "This week, Dubai crude oil was $76.3 per barrel, up $2.9 from the previous week," adding, "International oil prices are on the rise due to expectations of oil demand recovering to pre-pandemic levels, Goldman Sachs' year-end crude oil forecast of $90, and anticipated increases in oil imports to meet winter demand."

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