Gasoline Price at 1,687.2 Won per Liter... Rising for 4 Consecutive Weeks

Korea National Oil Corporation, Domestic Oil Price Trends for the Second Week of October

[Asia Economy Reporter Joo Sang-don] Gasoline prices rose by nearly 30 won per liter this week, marking the fourth consecutive week of increases.

According to the Korea National Oil Corporation on the 16th, the retail price of gasoline at gas stations in the second week of October rose by 28.3 won from the previous week to 1,687.2 won/ℓ, continuing the upward trend for four weeks straight.

The average price at budget gas stations was the lowest at 1,656.7 won/ℓ, while GS Caltex gas stations recorded the highest price at 1,694.7 won/ℓ.

In Seoul, the region with the highest prices, gasoline prices increased by 25.9 won from the previous week to 1,772.5 won/ℓ, which is 85.4 won higher than the national average. In Daegu, the region with the lowest prices, gasoline prices rose by 31.9 won from the previous week to 1,664.0 won/ℓ, which is 23.1 won lower than the national average.

Diesel prices rose by 29.2 won from the previous week to 1,483.6 won/ℓ.

This week, Dubai crude oil was priced at $82.0 per barrel, up $2.8 from the previous week. A Korea National Oil Corporation official stated, "International oil prices are on the rise this week due to ongoing energy supply shortages, the International Energy Agency (IEA)'s forecast of increased oil demand, and expectations of reduced U.S. crude oil production."

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